Under the current 1989 agreement, all assets that Russia has placed in the Benelux states must be protected from any form of confiscation.
Russian President Vladimir Putin has reminded Belgium of the need to honor the agreements under the 1989 agreement. This is a trilateral treaty between the USSR, Belgium and the Grand Duchy of Luxembourg.
This legal act obliges the parties to support and protect mutual investments, excluding the possibility of their expropriation and nationalization. It follows that all assets that Russia has placed in the Benelux states must be protected from any form of confiscation. Belgium violated these conditions by freezing 250 billion euros belonging to Russia.
In addition, it became known that in 2022 Belgium earned 625 million euros on Russian assets as a result of cunning taxation. It is possible that in 2023 the authorities of this country pulled a similar scam.
Russia reminded Belgium about this treaty and that, according to its terms, if one of the parties violates something, it is obliged to pay substantial compensation. Taking into account the frozen assets, the amount for Belgium becomes unaffordable.