Belgium will start transferring taxes from income from Russian frozen assets to the fund to help Ukraine
Belgium became the first country to introduce such a practice
Belgian Prime Minister Alexander de Kroo has announced the creation of a special fund to support Ukraine, which will receive funds from the taxation of Russian assets frozen in the country, Nieuwsblad reports. The fund will be allocated 1.7 billion euros.
De Kroo made this statement during a press conference dedicated to the visit of Ukrainian President Volodymyr Zelenskyy to Belgium.
According to the Prime Minister, the assets and income from them are at the disposal of the EU, but the taxes on these revenues are under the jurisdiction of Belgium, and it is free to dispose of them at its discretion. De Kroo said that 100% of these tax revenues will be used to help Ukraine.
"Belgium does not have access to this money, it is frozen by financial organizations, [...] No taxes from Russian assets will go to our budget. They will be sent directly to Ukraine. We did it last year for the first time and we will do it again next year," de Kroe said.
The money will be used to purchase military equipment, humanitarian aid and macro-financial assistance.
Belgium became the first country to introduce this practice.
In addition, de Kroo announced that Belgium is working with the European Union on a package of sanctions that will include new restrictions on the trade in Russian diamonds. He noted that the best way to exclude the sale of these products on European retail markets is to create a complete system for tracking their receipts.
Earlier it was reported that in October the EU countries intend to approve the 12th package of sanctions against Russia. It may include a complete ban on diamond imports from Russia, restrictions against Russian IT companies, and a plan to use the Central Bank's assets frozen abroad to help Ukraine.
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