The Prime Minister of Belgium announced the creation of a special fund in Belgium to transfer 1.7 billion euros of frozen Russian assets to Ukraine

Why Belgium?

Belgium is home to the international depository Euroclear, which has frozen about EUR 125 billion of Russian assets, which the depository reinvests and earns profits from. The Belgian government taxes these profits, and it is this tax that is planned to be transferred to Ukraine.

Who will manage the funds?

Since the fund is created within the Belgian state budget, the Belgian government will manage the funds.

At the same time, the United States also supported the decision to tax excess profits and direct the money to support Ukraine.

The very next day, the Estonian government submitted a legislative proposal to the parliament to use 38 million euros of frozen Russian assets to support our country.

Therefore, this case is a precedent that shows how important it is to continue to make efforts to achieve the ultimate goal of confiscating all frozen Russian assets to compensate Ukraine for the losses incurred.

Read more in the article by Tetyana Khutor for "Українська правда"