Russia issues stern warning to Western nations over asset seizure
Date
2/13/2024 8:16:16 AM
(MENAFN) In response to recent actions by Western countries, Russia issued a stern warning on Tuesday, cautioning against the potential confiscation of hundreds of billions of dollars in Russian assets by the United States and the European Union. This warning comes in the wake of the Russia-Ukraine conflict that erupted in 2022, leading to the imposition of sanctions by the United States and its allies. Among these sanctions was a ban on transactions with the Russian Central bank and the Russian Ministry of Finance, resulting in the freezing of approximately USD300 billion in Russian sovereign assets held in the West.
Taking a significant step, the European Union introduced legislation aimed at seizing profits from the frozen assets of the Russian Central Bank. This move is part of the EU's broader strategy to utilize the funds for the reconstruction efforts in Ukraine. In response to these developments, Maria Zakharova, the spokeswoman for the Russian Foreign Ministry, conveyed Russia's firm stance through statements to Sputnik Radio, as reported by the Russian TASS news agency.
Zakharova emphasized that Russia views such actions as tantamount to "theft" and illegal seizure. She warned of a "very harsh" response from Russia, indicating that any continuation of such measures against the country would be met with strong countermeasures. Notably, Zakharova underscored that Russia's response would target those involved in what it perceives as theft rather than merely political actors. Furthermore, Russia cautioned that it might resort to similar measures against the assets of the United States, European nations, and other countries if its assets abroad are seized.
In summary, Russia's warning underscores escalating tensions surrounding the issue of asset seizures by Western nations, setting the stage for potential retaliatory measures and further exacerbating the geopolitical landscape.
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