Russia threatens retaliation over frozen asset confiscation
Russia's Foreign Minister Sergey Lavrov (photo: Getty Images)
Russia's Foreign Minister Sergey Lavrov threatened a response if frozen Russian assets held in European financial institutions are confiscated, according to TASS.
"To any hostile steps, including the deployment of European military contingents in Ukraine and the expropriation of Russian assets, we will respond, and we are already prepared for that response," Lavrov said.
The Russian foreign minister also noted that the Kremlin is allegedly already prepared for such a response.
Background
The European Commission previously proposed providing Ukraine with a so-called reparations loan, which frozen Russian assets would back.
Its approval requires unanimous support from all EU member states. Belgium currently blocks the initiative — the country where the largest share of frozen Russian assets is held.
Brussels is wary of legal risks and has not yet agreed to the plan. The European Commission says it has already addressed almost all of Belgium's concerns and prepared an updated proposal.
Additionally, on December 8, a joint statement by G7 finance ministers was published, stating that the bloc is ready to consider confiscating all frozen Russian assets to help achieve a just peace in Ukraine.
Earlier, Politico reported that Japan had refused to support the EU's initiative to use frozen Russian assets for Ukraine's benefit. Later, Japan's Ministry of Finance denied claims that Tokyo had rejected the EU proposal on confiscating frozen assets.
