Belgium unchains Russian accounts

Russian state assets seized by Belgium amid legal claims over oil firm released, says official

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Belgium has unblocked Russian embassy accounts, frozen due to the Kremlin's refusal to abide by a multibillion-dollar court settlement of former oil company Yukos, Belgium's foreign minister Didier Reynders has said.

According to the legal claim, Russia was obliged to pay $50 billion in damages to shareholders of the now-defunct oil firm Yukos.

During a visit to China, Reynders said "a solution has been found to unblock as a priority accounts for the running of the embassies, and the rest will follow." 

Similarly, France has also sized Russian state accounts in about 40 banks and several buildings. However, it is still unknown if the frozen assets will be released. 

Economist Andrei Belousov, assistant to Russian president Vladimir Putin, expressed his concern during the St Petersburg forum. 

“We are concerned. We expect a number of countries to take similar measures,” he said.

TRTWorld and agencies