Belgian politicians and finance bosses targeted by Russian intelligence over seized assets

Exclusive: Key figures at frozen assets depository among targets of intimidation campaign, say European intelligence agencies

Belgian politicians and senior finance executives have been subject to a campaign of intimidation orchestrated by Russian intelligence aimed at persuading the country to block the use of €185bn assets for Ukraine, according to European intelligence agencies.

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.

EU leaders meeting in Brussels on Thursday are debating whether to approve the lending of urgently needed funds for Ukraine secured on Russian central bank assets, critical to maintain Kyiv’s war effort through 2026 and 2027.

Officials believe the campaign is the responsibility of Russia’s GRU military intelligence, though there is a debate about the degree of threat. “They have been engaged in the tactics of intimidation for sure,” one European official said.