Antagonist
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Character Role Analysis
Belloq
For every yin there is a yang, and for every slightly rumpled grave-robbing archaeologist there's… well, there's a much more evil grave-robbing archaeologist. Belloq really has a point when he says "it will take only a nudge to make you like me." Belloq cheats a little more than Indy does, and he's given to gloating more than he should, but in a lot of ways, Indy could be headed right where Belloq is if he isn't careful.
Belloq makes a particularly tough antagonist because he knows Indy so well. The Nazis (who also qualify as antagonists, though they're much more direct) are happy just to shoot him in the head. Belloq, on the other hand, can destroy him with a little bit of insight, like when he calls Indy's bluff about blowing up the Ark: "You want to see it open as well as I," he says, disarming Indy not with a hail of bullets but with a nasty mainline into his soul.
He knows that claiming Indy's prize yet again would hurt far more than simply shooting Indy, and he wants his victory over his hated rival to be absolute. Pity he didn't read the fine print about opening the Ark. A good bad guy presents a threat, but it takes a great one to beat you at your own game, something Belloq does with deceptive ease.