MOSCOW: Russia on Monday warned European states that it would go after any state which sought to take its assets after reports that the European Union was floating the idea of spending billions of dollars worth of frozen Russian assets to help Ukraine.
After President Vladimir Putin sent his army into Ukraine in 2022, the United States and its allies prohibited transactions with the Russian central bank and finance ministry and blocked $300-$350 billion of sovereign Russian assets, mostly European, US and British government bonds held in a European securities depository.
Reuters reported that European Commission President Ursula von der Leyen wants the European Union to find a new way to finance Ukraine’s defence against Russia using the cash balances associated with Russian assets frozen in Europe.
Politico reported that the European Commission is mulling the idea of using Russian cash deposits at the European Central Bank from maturing bonds owned by Russia to fund a “Reparations Loan” for Ukraine.
“If this happens, Russia will pursue the EU states, as well as European degenerates from Brussels and individual EU countries who try to seize our property, until the end of the century,” former Russian president Dmitry Medvedev wrote on Telegram.
Russia will pursue European states in “all possible ways” and in “all possible international and national courts” as well as “out of court”, said Medvedev, who serves as deputy chairman of Russia’s Security Council.
Russia says any seizure of its assets amounts to theft by the West and will undermine confidence in the bonds and currencies of the United States and Europe.
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