Belgian Court Rules on Frozen Russian Assets
Belgian court rules the treasury lacked proper authority to refuse releasing frozen Russian bank assets. The decision creates uncertainty for other blocked funds at Euroclear.
Belgium's Council of State ruled that the treasury department lacked proper legal authority to refuse the release of frozen assets held by BCS Bank. The ruling exposes broader treasury decisions to legal challenges unless authorities revise the framework. The legal vacuum complicates management of the roughly €200 billion ($230.7 billion) in Russian assets frozen across Europe.
