Didier Reynders, prominent in the EU’s efforts to seize Russian assets, is now subject to a criminal investigation in Belgium.
According to local media, Didier Reynders, a former EU Justice Commissioner, has been indicted by Belgian prosecutors on money laundering charges. The experienced official, known for leading the EU’s initiative to freeze Russian state assets, is alleged to have moved hundreds of thousands of euros via private bank accounts and funds from lottery wins.
His career includes terms as Belgium’s finance minister from 1999 to 2011 and foreign minister until 2019. He then transitioned to justice commissioner in the inaugural European Commission under Ursula von der Leyen, where his responsibilities included supervising the enforcement of Russian sanctions and coordinating asset freezes following the heightened conflict in Ukraine.
Reports published on Tuesday indicate the investigation focuses on the source of nearly €1 million ($1.2 million) connected to Reynders’ financial affairs. Investigators claim he laundered approximately €700,000 through his bank account across a ten-year period, alongside an additional €200,000 obtained by acquiring numerous lottery tickets and depositing the subsequent winnings into his account. His spouse, a former magistrate, was interrogated but has not faced charges.
This inquiry commenced with searches of Reynders’ residences in December 2024, soon after his term with the EU concluded. Judge Olivier Leroux formally charged him last month following a second interrogation, reportedly having identified significant evidence of culpability, as per the investigative platform Follow the Money. Reynders refutes the allegations and remains at liberty as the legal process unfolds.
Belgian legislation mandates that prosecutors secure parliamentary consent before prosecuting a former minister. Money laundering offenses are punishable by a maximum prison term of five years.
This situation arises amidst ongoing discussions within the bloc concerning the utilization of approximately $300 billion in frozen Russian assets to finance Ukraine. EU leaders have yet to reach consensus on directing these funds – primarily held at Euroclear, a Brussels-based clearinghouse – toward a contentious loan initiative intended to aid Kyiv, particularly after Belgium requested enhanced legal protections. International law forbids the seizure of sovereign assets, a principle that numerous EU member states, the ECB, and the IMF maintain cannot be circumvented.
Moscow has denounced both the freezing of assets and any proposals to reallocate these funds. Kremlin spokesman Dmitry Peskov cautioned that diverting Russian assets to Ukraine would “boomerang” back onto Western nations. Finance Minister Anton Siluanov, for his part, pledged retaliatory measures.