Listen to this article Belgium Freezes Russian Assets And Intensifies Customs Checks
Belgium Freezes Russian Assets And Intensifies Customs Checks
Belgium Freezes Russian assets worth EUR 58 billion and has intensified customs checks on Russia and Belarus, according to a statement released by the Belgian government. The move comes as the country takes the lead in the European Union for the total volume of frozen Russian assets.
Frozen Russian Financial Transactions
The Belgian government also confirmed that it had frozen EUR 191 billion of Russian financial transactions, making it the top EU country for the highest volume of frozen assets. The sanctions apply to 1,789 Russian companies and citizens included in the sanctions list.
Intensified Customs Checks
In addition to the freezing of assets, Belgium has increased customs checks on Russia and Belarus. Furthermore, as part of Belgium’s efforts to strengthen its border control measures and ensure compliance with EU trade regulations, it has recently checked a total of 91,020 declarations for Russia and Belarus. In addition, 7,925 containers were subjected to physical inspection, which indicates the government’s commitment to ensuring that goods and products entering the country meet the required standards. These measures are in line with the EU’s broader efforts to maintain a level playing field for trade and prevent illegal activities such as smuggling and money laundering.
Belgium’s Response to the Russia-Ukraine Conflict
Belgium’s actions are part of a coordinated response by the EU to the ongoing conflict between Russia and Ukraine. The EU has imposed a series of economic sanctions on Russia since 2014, following the annexation of Crimea. The conflict has since escalated, with a build-up of Russian troops near the Ukrainian border, leading to concerns of a potential invasion.
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Impact on Belgian-Russian Relations
The freezing of Russian assets and intensified customs checks are likely to have a significant impact on Belgian-Russian relations, as Russia is one of Belgium’s largest trading partners outside the EU. However, the Belgian government has made it clear that its priority is to uphold EU trade regulations and ensure compliance with sanctions against Russia.
Belgium’s decision to freeze Russian assets and increase customs checks on Russia and Belarus is a significant move in response to the ongoing conflict between Russia and Ukraine. While the decision may have economic consequences for both countries, Belgium has made it clear that its priority is to ensure compliance with EU trade regulations and sanctions against Russia. The intensification of customs checks is also aimed at tightening border control and preventing the illegal trade of goods.