MOSCOW: Russia’s response to the possible expropriation of its immobilized sovereign assets by the West has been drafted, Justice Minister K...
MOSCOW: Russia’s response to the possible expropriation of its immobilized sovereign assets by the West has been drafted, Justice Minister Konstantin Chuichenko has told TASS.
"Measures to respond to possible confiscation of Russian assets by Western countries have been drafted. They have been submitted to the country’s leadership," Chuichenko said without elaborating.
In his words, "the planned seizure of Russian assets by unfriendly countries constitutes a blatant violation of the international law’s fundamental norms, and will make such countries liable to compensate for the damage, inflicted by this violation of the Russian Federation’s property rights."
EU countries are trying to develop legal mechanisms for the use of frozen Russian assets. Most of them - just over 200 billion euros - are blocked on the Euroclear site in Belgium. The depository has repeatedly opposed the expropriation of these funds, warning that this could lead to Russia's seizure of European or Belgian assets in other parts of the world in court.
Russian Presidential Spokesman Dmitry Peskov said that Moscow would not leave attempts to confiscate Russian assets unanswered. Meanwhile, Russian Foreign Ministry Spokeswoman Maria Zakharova stated that Russia's response would be very harsh and painful if EU countries used frozen Russian assets to issue a "reparation loan" to Ukraine.
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