Criticism of "A Country Profiting from War"... Belgium Earns 900 Billion Won in Interest Income from Frozen Russian Assets

Belgium has secured a total of 625 million euros (approximately 890 billion KRW) solely from taxes on interest from frozen Russian assets since the Ukraine war. This amount significantly exceeds the aid provided to Ukraine, prompting criticism from some quarters.

According to recent data released by the Belgian Ministry of Foreign Affairs, since the outbreak of the war in February last year, Belgium has earned 625 million euros in taxes on interest from frozen Russian assets within its borders. This is about 1.5 times the 423.6 million euros (approximately 600 billion KRW) that the Belgian government has provided in aid to Ukraine during the same period.

This is attributed to the fact that about two-thirds of the Russian assets frozen by the West following Russia's invasion of Ukraine are held by Euroclear, an international central securities depository based in Belgium.

As a result, criticism has arisen internally. On the 2nd (local time), the Brussels Times reported that some in Belgian political circles expressed disappointment over the significant gap between additional tax revenue from frozen assets and the aid provided to Ukraine.

The criticism points to the relatively small absolute scale of support for Ukraine. Earlier, Belgian Prime Minister Alexander De Croo stated that the additional tax revenue generated from freezing Russian assets would be used solely for supporting Ukraine, but this commitment appears not to have been upheld.

In fact, according to the Kiel Institute for the World Economy, Belgium ranks 20th in absolute aid among 41 countries that have provided assistance to Ukraine. Its aid relative to gross domestic product (GDP) ranks 25th.

Georges Dallemagne, a member of the Belgian Federal Chamber of Representatives, criticized, "We are the only country making more money from the war than contributing to military and humanitarian support," urging the government to take more proactive measures in support.

This content was produced with the assistance of AI translation services.