Russian intelligence trying to intimidate Belgian politicians over frozen assets – media

12:15, 18.12.2025 1 min read

According to European intelligence agencies, Belgian politicians and senior financial executives have been the victims of an intimidation campaign organized by Russian intelligence to persuade the country to block the use of assets worth EUR 185 billion for Ukraine, The Guardian has reported.

"Security officials indicated to the Guardian that there had been deliberate targeting of key figures at Euroclear, the securities depository holding the majority of Russia’s frozen assets, and leaders of the country," the report states.

Officials believe that Russia’s military intelligence agency, the GRU, is behind the campaign, although there is controversy over the extent of the threat.

"They are undoubtedly using intimidation tactics," said one European official.

The threats were directed at Valerie Urbain, Euroclear’s chief executive, and other executives at the financial group.

Euroclear declined to comment: “Any potential threats are treated as a matter of priority and are investigated thoroughly, often with the support of the relevant authorities.”