(MENAFN) Tensions between Moscow and Washington have escalated following a stark diplomatic warning issued by Deputy Foreign Minister Sergey Ryabkov on Thursday. Ryabkov cautioned that Moscow might consider downgrading diplomatic ties with the United States should the latter proceed with the expropriation of frozen Russian assets, signaling a potential diplomatic fallout between the two nations.
The crux of the dispute lies in the extensive sanctions imposed by the United States and its allies, resulting in the freezing of approximately USD300 billion in Russian central bank assets, primarily held within the European Union. Washington's persistent advocacy for the expropriation of these assets, with the intention of diverting funds to support Ukraine's war effort against Russia, has further strained relations between the two global powers.
Of particular concern is the recent approval by the United States House of Representatives of the REPO Act, a legislative measure that authorizes the confiscation of Russian assets held in American banks. This move, coupled with a USD61 billion military aid package for Ukraine, has intensified tensions and raised alarm bells among Russian officials.
Despite objections from some quarters, including United States Senator Rand Paul cautioning against the potential consequences of such actions, Washington remains steadfast in its pursuit of asset confiscation. However, the legality and ethical implications of such a move have been widely debated, with European Union nations displaying reluctance to follow suit, citing fears of destabilizing the euro and inviting retaliatory measures from Moscow.
In response to the looming threat of asset confiscation by G7 countries, Moscow has hinted at potential economic and diplomatic countermeasures. Ryabkov's remarks underscore Russia's firm stance against what it perceives as unjustified and aggressive actions by Western nations, highlighting the escalating tensions and the fragility of diplomatic relations in the current geopolitical landscape.
As the standoff between Moscow and Washington intensifies, the prospect of further diplomatic strains and retaliatory measures looms large, raising concerns about the stability and security of international relations in an increasingly volatile global environment.
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