Putin Warns of Global Economic Shift

(MENAFN) Russian President Vladimir Putin has warned that any Western action to confiscate his country’s frozen financial assets would provoke a permanent transformation toward regional financial systems, a move he believes would ultimately serve the world economy’s interests.

Following the intensification of the Ukraine crisis in February 2022, Western nations froze an estimated USD300 billion of Russia’s sovereign wealth.

Of this amount, approximately EURO200 billion (equivalent to USD209 billion) is currently held by Euroclear, a clearing institution headquartered in Brussels.

EU foreign policy leader Kaja Kallas has persistently advocated using the funds to help rebuild Ukraine. However, this proposal has faced resistance from certain EU member countries.

Speaking at the Eurasian Economic Forum in Minsk on Thursday, Putin remarked that the West continuously discusses “how they are going to steal our money.”

He asserted that such a move would significantly hasten the transition toward alternative regional payment systems and make the process “undoubtedly become irreversible.”

According to him, this development would ultimately be “a good thing for the global economy.”

“Maybe it’s even worth paying the price for that,” the Russian leader stated, suggesting that the long-term economic transformation could justify the financial sacrifice.

Expanding on his perspective, Putin noted that calling it “theft” was not adequate, since “theft is the secretive taking of property – this is open. This is robbery.”

He concluded by emphasizing Russia’s commitment to enhancing its domestic financial infrastructure: “We’re determined to continue strengthening our own financial and settlement instruments in this regard,” he affirmed.

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