According to reports, Belgium has seized a lot more than was previously stated.
According to reports in the national media, Belgium froze more than €50 billion ($51 billion) in funds that belonged to Russian people, businesses, and other legal organisations that were subject to sanctions.
According to Francis Adyns, a spokesman for the finance division of the country's Federal Public Service, the amount includes "all kinds of financial assets" such as cash and stocks located in Belgium and owned by 1,229 individuals and 110 entities, including Russian politicians, businessmen, banks, and corporations, according to a report in the Nieuwsblad newspaper on Tuesday.
When information on frozen Russian assets in Belgium was last made public in April, the amount was €3.5 billion.
According to Nieuwsblad, the country where Euroclear, a significant European clearing house, is based also rejected transactions totaling €217 billion.
Russian assets worth close to €14 billion have been frozen across the European Union, including more than €12 billion in just five member states, according to Didier Reynders, the European Commissioner for Justice, who made the announcement last month. According to Reuters, the Russian Central Bank's additional €23 billion had its assets frozen in May.
Task teams were established by Western nations to locate and seize Russian assets in accordance with international sanctions imposed on the nation. Moscow has called the seizures "robbery" on numerous occasions.