A significant ruling for the Belgian implementation of EU restrictive measures
On 11 September 2026, the Belgian Council of State delivered a substantive judgment concerning the EU restrictive measures against the Federation of Russia, after the full invasion of Ukraine.
Bruno Lebrun and his team represented a client in the appeal before the Council of State challenging the Belgian General Administration of the Treasury’s refusal to release funds frozen with Euroclear.
The Council of State annulled that refusal, endorsing its Auditor’s finding that the General Administration of the Treasury—the authority responsible for deciding applications for derogations from EU restrictive measures—lacked the necessary competence.
The Ministerial Decree of 13 December 2023 had delegated the Ministry of Finance decision-making power to the Administrator-General of the Treasury. However, the Council of State held that this delegation was neither sufficiently defined nor adequately governed:
The scope of the delegation was unclear, as the Ministerial Decree did not identify the EU restrictive measures provisions concerned and also purported to cover future legislation;
The delegated powers involved a significant degree of discretion, including the ability to impose additional conditions directly affecting applicants’ fundamental rights and their right to property;
That discretion was not framed by any binding legislative or regulatory rules. The procedure published on the Federal Public Service Finance’s website had been established by the General Administration of the Treasury itself, while the Ministry of Finance had laid down neither guiding principles nor substantive safeguards.
The Council of State, therefore, set aside the Ministerial Decree pursuant to Article 159 of the Belgian Constitution and annulled the refusal because it had been adopted by an authority lacking competence. This judgment has direct implications for all refusal decisions currently being challenged, as well as for applications still pending before the General Administration of the Treasury.
Until a valid new delegation framework is established, the power to decide such applications would appear to remain with the Ministry of Finance, after a Law adopted on 15 July 2026, that confirms the Royal Decree empowering the Ministry of Finance.
An important judgment for the Belgian implementation of EU restrictive measures—and one whose practical implications will need to be closely followed.
For further information, please contact Bruno Lebrun.