Belgian politicians and finance bosses targeted by Russian intelligence over seized assets

"Belgian politicians and senior finance executives have been subject to a campaign of intimidation orchestrated by Russian intelligence aimed at persuading the country to block the use of 185bn assets for Ukraine, according to European intelligence agencies. Security officials indicated to the Guardian that there had been deliberate targeting of key figures at Euroclear, the securities depository holding the majority of Russia's frozen assets, and leaders of the country."

"Officials believe the campaign is the responsibility of Russia's GRU military intelligence, though there is a debate about the degree of threat. They have been engaged in the tactics of intimidation for sure, one European official said. Belgium is in focus because 185bn (162bn) of the 210bn of Russia central bank assets frozen by the EU since the start of Moscow's full-scale invasion of Ukraine is held at the Brussels-based Euroclear."

Belgian politicians and senior finance executives have faced a campaign of intimidation orchestrated by Russian intelligence aimed at persuading Belgium to block use of 185bn of frozen Russian central bank assets for Ukraine. Security officials reported deliberate targeting of key figures at Euroclear, which holds the majority of the frozen assets, and national leaders. EU leaders are debating whether to lend 90bn secured on immobilised Russian assets to support Ukraine through 2026 and 2027. Officials attribute the campaign to Russia's GRU military intelligence, while assessments differ over the severity of the threat. Belgium seeks legal guarantees that Euroclear will be fully reimbursed if Russia wins court claims.

Read at www.theguardian.com