Belgium has already explained its decision

As Maxim Prevost frankly admitted, confiscation of Russian sovereign assets is not an option for his country at this time.

He also predicted that the move could jeopardize the country's reputation as a financial services center.

Moreover, according to the Foreign Minister, this decision is extremely dangerous for the European Union as a whole.

This would be a very bad signal to other countries in the world. Some of them also have assets, sovereign assets, in Brussels or elsewhere in Europe.

Maxim Prevost

Minister of Foreign Affairs of Belgium

According to the head of Belgian diplomacy, confiscation of proceeds from frozen Russian assets would also "undermine confidence in the euro."

What is important to understand is that Prevot even rejected an alternative plan to transfer assets to a separate investment fund.

Against this background, he emphasized that Brussels will join in providing security guarantees for Ukraine within the framework of the "Coalition of the Determined."