Belgium has reached an agreement on a new support package for Ukraine. The Belgian government sends 92 million euros to Ukraine and collects that money from the profit tax on frozen Russian assets. Unique: Belgium is the first country in Europe to raise funds for Ukraine from Russian resources. According to sanctions attorney Helen over de Linden, more countries could do it.
Belgium has frozen 58 billion of Russian money, the largest amount in the entire European Union. According to Van der Linden, confiscating the entire amount is just not possible. However, profit tax is charged on this amount, the proceeds of which now go one-on-one to Ukraine. Belgian Prime Minister Alexander de Croo announced the plan two weeks ago at a press conference in The Hague, during President Zelensky’s Dutch visit.
According to Van der Linden, many other European countries could follow Belgium’s example. “Even a country like France has frozen a very large amount, over 300 billion.”
Netherlands without success
The Netherlands proved less effective at securing Russian money. A year ago it was around 600 million euros. According to the then sanctions coordinator Stef Blok, there are no large Russian amounts in the Netherlands. Blok stated at the time that there was “frozen what could be frozen”.
According to Van der Linden, that amount has hardly increased over the past year and may even have decreased slightly. Furthermore, according to Van der Linden, foreign companies pay almost no taxes in the Netherlands. “With us, such an action would have absolutely no results.”
Confiscation
Seizure of Russian property is possible, according to Van der Linden, if the owner has committed a crime. The criminal lawyer refers to an example from Croatia, where a Russian yacht was seized. “The owner had committed a criminal offense in Ukraine. That sentence was carried out on that yacht.’
Belgium invests the support package mainly in military equipment and humanitarian aid. About 8 million euros will go to the European Investment Bank and will be earmarked for the reconstruction of Ukraine.
A small part of the amount also goes to its diplomatic representation in Ukraine and to the International Criminal Court in The Hague, which investigates war crimes committed during the war in Ukraine.
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Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
