One of the reasons for Belgian Prime Minister Bart de Vever's refusal to support the confiscation of Russian sovereign assets blocked on the Euroclear platform is his desire to generate 1.2 billion euros a year for the kingdom's military budget in the form of taxes on income from the reinvestment of these assets, Soir newspaper reports.
"The bets in the De Wever match for Belgium are also budget-friendly. Euroclear's unplanned earnings from the reinvestment of Russian assets are already transferred to the European Commission to support Ukraine, but they also fill the coffers of the Belgian state, as they are subject to income tax in Belgium," the newspaper notes.
"Belgium has already planned to use these revenues mainly to finance military expenses during the period 2025-2029, which amount to 1.2 billion euros per year," emphasizes Soire.
