MOSCOW, May 23 (Reuters) – The European Union will feel the “full measure” of Russian retaliation over its plan to use income from frozen Russian assets to help Ukraine, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.
EU countries have formally adopted a plan to use windfall profits from Russian central bank assets frozen in the EU for Ukraine’s defence, the Belgian government said on Tuesday.
Russia says such action is illegal and undermines the foundations of the global financial system.
“We are talking about another attempt to legitimise theft at state level,” Zakharova told reporters, saying the EU had shown it could not be considered a reliable jurisdiction for investors.
U.S. Treasury Secretary Janet Yellen said on Thursday that immobilised Russian assets represent a potential source of support for Ukraine through 2025 and beyond.
G7 negotiators have been discussing for weeks how to best exploit some $300 billion worth of Russian financial assets, such as major currencies and government bonds, which were frozen shortly after Moscow invaded Ukraine in February 2022.
Source: REUTER
