Belgium – The Belgian Defense Minister warned that Russia’s anticipated move to retaliate against the seizure of frozen Russian assets in Europe could have severe economic repercussions for his country. He also indicated that Brussels would be among the hardest hit if Moscow decided to take similar retaliatory measures.
The minister explained that the Belgian economy relies largely on stable trade and financial relations with the outside world. Furthermore, any escalation in the asset dispute could lead to a “severe blow” affecting all European markets.
His remarks come as the crisis between Moscow and European capitals escalates. This comes after the European Union announced plans to use profits from frozen Russian assets to support Ukraine. Russia considered this “outright theft” and vowed to respond in kind.
