Overview

• The EU has frozen roughly €210 billion in Russian central‑bank assets, with the bulk held at Euroclear in Brussels.
• Euroclear recently sent €1.6 billion in proceeds to the European Commission, following €2.1 billion in April and €1.5 billion last year.
• Interest remittances this year total about €2.7 billion, which falls far short of Ukraine’s reconstruction needs estimated above €500 billion.
• Belgium has collected around €1.7 billion in corporate tax on those earnings, a fiscal benefit that bolsters its opposition to seizing the principal.
• Confiscation remains constrained by legal risks, including a 1989 Belgian‑Soviet treaty and pending lawsuits, even as Baltic states, Poland and some EU politicians urge tapping the reserves.