Belgium plans to deliver 10 F-16 fighter jets to Ukraine by the end of 2026, Prime Minister Bart De Wever announced on 16 October, raising the expected number from three amid delays in transferring the aircraft.

The expanded commitment comes as Ukraine faces sustained Russian drone and missile attacks and needs additional combat aircraft to strengthen its air defenses. 

De Wever made the announcement at a press conference in Brussels alongside Ukrainian President Volodymyr Zelenskyy, Anadolu Agency reported. He said Belgium’s deliveries had fallen behind schedule because its new US-made F-35 fighter jets arrived later than expected.

Belgium also discussed supplying more ammunition for Ukraine’s F-16s.

F-16 deliveries delayed by F-35 schedule

“We will deliver 10 this year,” De Wever said, explaining that delays in receiving Belgium’s F-35s had held up the transfer of its F-16s. The new aircraft are now beginning to arrive, allowing Belgium to move forward with deliveries to Ukraine.

Zelenskyy confirmed that Kyiv expects additional F-16s from Belgium by the end of the year and thanked Brussels for the agreement.

The announcement marks an increase from Belgium’s previously reported plan to send three F-16s to Ukraine by the end of 2026. The new figure would more than triple the number expected under that earlier commitment.

F-16s to help counter Russian jet-powered drones

De Wever said Ukraine urgently needs operational fighter jets and described the F-16 as one of the few weapons capable of effectively countering Russian jet-powered drones.

The aircraft can also intercept cruise missiles and other aerial targets, while carrying out electronic warfare and combat missions. Ukraine received its first F-16s in 2024 after allies agreed to supply the aircraft and train Ukrainian pilots. 

Belgium discusses ammunition and financial support

Zelenskyy and De Wever also discussed supplying additional ammunition for Ukraine’s F-16s, including 20 mm rounds produced by Belgian defense company FN Herstal.

The leaders also reportedly discussed Ukraine’s financial needs, though neither provided details on potential next steps. Belgium remains at the center of discussions over frozen Russian assets, as Brussels hosts Euroclear, which holds a large share of the immobilized funds.

Russia has placed five foreign-owned businesses under compulsory administration, including Belgian manufacturer Ontex and French flooring group Tarkett. The latest seizures deepen the confrontation over sanctions, frozen Russian assets and the future of European investment in Russia.

Russian President Vladimir Putin has ordered the transfer of five Western-owned businesses into compulsory Russian management, extending a campaign of asset seizures targeting European companies that continued operating in Russia after the full-scale invasion of Ukraine.

The decree, signed on 15 October, affects businesses with combined annual revenues exceeding 53 billion roubles, approximately €530 million. They include French flooring manufacturer Tarkett, Belgian hygiene products group Ontex, German packaging producer Menshen, Kappa Rus and Eviosys Packaging Kuban, now linked to American group Sonoco.

Under Presidential Decree No. 738, operational control has been transferred to Centre Capital, a little-known Moscow company established in February 2026 with registered share capital of just 10,000 roubles.

The decision follows similar interventions against Nestlé, Auchan, FM Logistic and Metro in September. Together, the measures demonstrate how Moscow is using foreign-owned businesses as instruments of economic retaliation against countries supporting Ukraine.

Foreign businesses placed under Russian control

Centre Capital is headed by Marat Mirkhaydarov, a former senior official in Russia’s Zabaykalsky region who reportedly served with the Akhmat military formation during Russia’s war against Ukraine.

The scale of the companies placed under his management contrasts sharply with the financial standing of the administrator.

Tarkett’s Russian operations generated approximately 19.3 billion roubles in revenue during 2025, while Kappa Rus recorded 16.5 billion roubles and Ontex RU another 10.3 billion. Eviosys Packaging Kuban and Menshen Packaging CIS reported approximately 6.1 billion and 1.4 billion roubles respectively.

The decree does not formally transfer ownership of the companies to Centre Capital. It does, however, remove the foreign shareholders’ effective control over management, operations and commercial decisions.

For Belgian manufacturer Ontex, the consequences are immediate.

In an official statement issued on 16 October, the Aalst-based company confirmed that a government-appointed administrator had assumed operational control of its Russian subsidiary.

Ontex Russia employs approximately 350 people, operates a manufacturing facility in Noginsk and maintains a sales office in Moscow. The subsidiary accounts for around five per cent of the group’s total revenue and between seven and eight per cent of adjusted EBITDA.

The company said it was examining measures to protect its assets and maintain business continuity.

Tarkett likewise confirmed that it was losing effective control of its Russian operations.

A mechanism established in 2023

The legal framework for such interventions dates to April 2023, when Putin introduced Decree No. 302, allowing the Russian authorities to place assets associated with countries designated as unfriendly under temporary external management.

The appointed administrator can exercise extensive ownership-related powers, although the formal right to dispose of the assets remains excluded.

Crucially, the arrangement can be terminated only by presidential decision. There is no automatic deadline for returning operational control to the original owners.

Moscow maintains that the measures are reversible. Nevertheless, the loss of management authority raises questions about whether businesses could eventually be returned with their financial position, organisational structure and commercial value intact.

The latest decree extends the process already documented by EU Today following the September takeover of Nestlé and Auchan’s Russian operations.

The Kremlin’s approach also serves domestic economic objectives. Keeping factories, retail networks and distribution facilities operating under Russian management helps preserve employment, production capacity and established supply chains.

At the same time, appointing Russian administrators allows the authorities to exercise greater influence over businesses originally developed through foreign capital, technology and expertise.

European companies caught in sanctions confrontation

Kremlin spokesman Dmitry Peskov has explicitly linked the seizures to the nationality of the affected companies and the policies of their governments.

He accused European states of participating in the unlawful seizure of Russian property through sanctions and financial restrictions.

Moscow’s argument centres partly on approximately €210 billion in Russian sovereign assets immobilised in the European Union, most of them held through Belgium-based securities depository Euroclear.

The European Union has used extraordinary revenues generated by those assets to support Ukraine, while further proposals involving the underlying funds remain subject to legal and political debate.

Belgium has been particularly concerned about potential financial exposure and legal claims. As EU Today reported in September, a Belgian Council of State judgment raised additional questions about the administrative procedures governing certain frozen assets.

The dispute has also moved into the European courts, with the Bank of Russia challenging EU measures intended to protect Euroclear against the enforcement of Russian judgments.

Moscow’s treatment of European businesses adds another dimension to this confrontation. By retaining control over foreign-owned industrial and commercial assets, Russia possesses a means of exerting pressure on companies whose governments support sanctions and military assistance to Ukraine.

The implications are particularly serious for Western banks that still maintain substantial Russian operations.

Austria’s Raiffeisen Bank International and Italy’s UniCredit remain exposed to Russia through local subsidiaries. Any extension of compulsory administration to financial institutions could create additional difficulties involving deposits, capital and banking supervision.

The cost of remaining in Russia

The seizures also expose the financial risks faced by Western companies that delayed their withdrawal after February 2022.

Many initially sought to protect their investments, employees and commercial infrastructure. Others reduced operations but retained ownership, expecting that conditions might eventually permit an orderly sale or renewed business activity.

Russian restrictions have progressively complicated that calculation, requiring foreign investors from designated countries to accept substantial discounts on asset sales and obtain official approval for transactions.

Companies remaining in the country now face the additional possibility that the government will appoint administrators without their consent.

The consequences extend beyond the businesses immediately affected. Russia is establishing a precedent under which foreign investment can remain legally owned by its original shareholders while its economic benefits and operational management are placed beyond their control.

For European governments, the latest decree illustrates the increasing connection between commercial interests and geopolitical decisions.

The Kremlin has demonstrated that sanctions imposed over its invasion of Ukraine can be answered not only through diplomatic or financial measures, but also through direct intervention in European-owned businesses operating on Russian territory.

Any eventual negotiation over sanctions relief and the restoration of economic relations will consequently have to address the status of these assets, the rights of their original shareholders and the question of compensation.

Until then, Western companies remaining in Russia face an investment environment in which the ultimate authority over their businesses rests increasingly with the Kremlin rather than their shareholders.

De Wever said that Ukraine urgently needed the fighter jets, as they were one of the few weapons capable to strike Russian jet-powered drones.

"Without a determined European Union capable of making strong decisions Putin would have gone much further by now," Zelensky said, before calling on the bloc to double down on its support.

Belgian investigators have searched properties associated with relatives and associates of Congolese President Félix Tshisekedi in an inquiry into alleged laundering of mining revenues, bringing renewed scrutiny to financial links between the two countries.

Belgian police have conducted searches at several properties in Brussels and its surrounding areas as part of an investigation into allegations that money diverted from the Democratic Republic of Congo’s mining sector was laundered through Belgium.

The searches, carried out on 15th October, reportedly involved homes associated with relatives and individuals close to Congolese President Félix Tshisekedi. Belgian prosecutors confirmed that searches had taken place but did not publicly identify those concerned, while the Congolese presidency declined to comment.

The investigation follows a complaint lodged in Belgium in 2025 by civil society organisations from Katanga, the mineral-rich region of south-eastern Congo. Their lawyers, Bernard Maingain and Hervé Diakese, allege that mining revenues which should have benefited Congolese communities were instead diverted and channelled through financial arrangements involving individuals with connections to Belgium.

The allegations have not been established in court. The searches form part of an investigation, and their execution does not establish criminal responsibility on the part of the individuals or organisations whose premises were examined.

Mining revenues under scrutiny

Congo is one of the world’s most important suppliers of copper and cobalt, minerals essential to electric vehicles, batteries, electronics and other advanced industrial products. Its mineral resources also occupy an increasingly important position in the European Union’s effort to diversify strategic supply chains.

Yet the financial arrangements surrounding mineral extraction have repeatedly generated controversy over public accountability, the distribution of revenues and the relationship between political authorities and commercial interests.

The Belgian inquiry concerns an especially sensitive question: whether funds originating from Congo’s mining economy were transferred into the European financial system under circumstances that could constitute money laundering.

According to the details of the investigation published on Thursday, the original complainants maintain that money linked to mining operations was diverted from its intended beneficiaries and used to benefit people connected to the Congolese leadership.

The proceedings are particularly significant because Belgian courts can investigate alleged laundering through Belgian financial structures even when the suspected underlying misconduct occurred abroad, subject to the applicable jurisdictional requirements.

Investigators will need to establish the origin of the funds, the route they allegedly followed and whether those involved knew or should have known that the money represented proceeds of criminal activity.

Belgium’s relationship with Congo

The investigation also has a diplomatic dimension. Belgium ruled Congo until independence in 1960, and the countries retain extensive commercial, political and personal connections.

Brussels remains an important centre for Congolese political and business networks, making Belgium a potentially relevant jurisdiction when investigators examine suspected financial movements connected to the country.

At European level, the inquiry comes as the EU attempts to strengthen relationships with mineral-producing countries while reducing its dependence on concentrated supply chains.

The European Commission’s cooperation programme with the Democratic Republic of Congo specifically identifies responsible sourcing, transparency, due diligence and action against illegal trafficking in raw materials as areas for cooperation.

These commitments have practical consequences for European businesses seeking greater access to copper and cobalt. Investment and supply arrangements depend not only on access to mineral deposits but also on the reliability of commercial records, ownership structures and the institutions responsible for supervising mining revenues.

A money-laundering investigation involving politically connected individuals therefore raises questions extending beyond Congo’s internal affairs.

Implications for European financial supervision

Belgium has recently joined other EU member states in adopting additional measures intended to recover criminal assets and strengthen cross-border cooperation against illicit financial activity.

As EU Today reported on 14th October, European governments have endorsed new international arrangements designed to improve their ability to trace and recover assets associated with serious crime.

The Congo investigation concerns an existing criminal inquiry rather than the application of those newly agreed arrangements. Nevertheless, both developments illustrate the importance of financial intelligence, access to ownership records and cooperation between prosecutors when suspected proceeds move across jurisdictions.

For investigators, the central task will be tracing the alleged flow of money and determining whether financial transactions in Belgium conceal proceeds unlawfully obtained elsewhere.

For Congo, the proceedings arrive during a period of serious domestic instability, including renewed armed confrontation in the east of the country and growing political uncertainty surrounding its leadership.

Former president Joseph Kabila’s involvement in a new opposition alliance has intensified that confrontation, complicating Tshisekedi’s political position as his administration faces continuing security and economic pressures.

The Belgian authorities have not announced any findings establishing that President Tshisekedi personally participated in wrongdoing. The next important developments will be whether investigators identify specific transactions, bring charges or expand the inquiry to additional individuals or corporate structures.

Main Image: Kremlin, https://commons.wikimedia.org/w/index.php?curid=84821955

The talks apparently failed to yield a breakthrough on the fate of €200 billion ($227 billion) in Russian assets frozen by Euroclear under Belgian jurisdiction.