Press Secretary to the President of Russia Dmitry Peskov statedHe said Moscow would “indefinitely” object to the seizure of its assets abroad, which would threaten the West with “serious civil and legal costs.”
“We will also work on intervention measures. These are unlikely to be reflected,” the Kremlin representative said.
He added that the response to foreign countries’ actions would be “in the best interests” of Russia. Peskov also emphasized that the seizure of Russian reserves and their transfer to Ukraine was “illegal” and “contrary to all possible rules.”
Central Bank President Elvira Nabiullina also reportedthat the regulator would take “all steps” to protect the country’s legitimate interests. He expressed the opinion that the seizure of Russian assets would “have negative consequences as a precedent” for the development of the global financial system.
USA seizes
On November 8, the US House Foreign Affairs Committee approved a bill to use frozen Russian assets to aid Ukraine; This law gives the country’s president the right to seize all Russian funds under American jurisdiction.
According to the document, the seized funds should be transferred to the Ukrainian Support Fund; after which the US Secretary of State will be able to use them for reconstruction, restoration, humanitarian assistance and “for other purposes for the restoration of Ukraine and for the restoration of Ukraine.” welfare of its people.”
If the relevant law is passed, American officials will be able to seize Russian reserves and transfer them to Kiev within five years. The US right to forfeiture could be terminated sooner if hostilities between the Russian Federation and Ukraine end, if Kiev receives full compensation for damages, or if Moscow participates in a “good faith international mechanism” for the payment of compensation.
The initiative will be evaluated by the House of Representatives and the Senate and, if approved, will be sent to the US President for signature.
G7 will not return
Group of Seven (G7, Big Seven) countries announced that they will not return their frozen reserves to Russia unless it pays compensation to Kiev. This is stated in the joint statement expression Foreign ministers of G7 countries.
“We confirm that <…> The document states that Russia’s sovereign assets under our jurisdiction will remain inactive until Russia pays for the damage it has caused to Ukraine.
G7 countries also pledged to support “immediate, medium and long-term recovery” and reconstruction in Ukraine, vowed to increase economic pressure on the Russian Federation and introduce new “tough sanctions” and other restrictions against it.
They also threatened “serious consequences” for countries that continue to support Russia.
“Symmetrical response” threats
Chairman of the State Duma Vyacheslav Volodin at the end of October statedIt is stated that countries that decide to seize Russian reserves and transfer them to Ukraine will face a “symmetrical” reaction from Moscow.
“In this case, assets belonging to unfriendly countries will be seized, assets much larger than our funds frozen in Europe,” he wrote on Telegram.
He described the intention of Western states to seize the assets of the Russian Federation as “theft”.
In turn, during a meeting with Alexey Chepa, First Deputy Chairman of the State Duma Committee on International Relations “Lentoy.ru” He stated that Russia could spend the withdrawn EU funds “for economic development and solving social problems”, including supporting those in the military operation zone in Ukraine.