(MENAFN) Russian Foreign Minister Sergey Lavrov has strongly rejected any attempt by the European Union to seize Russia’s frozen sovereign assets to fund Ukraine, calling it “illegal” and a form of “outright deception and robbery.”

Since 2022, Western nations have frozen around $300 billion in Russian state assets. Last year, interest from these funds was used to generate $50 billion in loans for Ukraine. In 2025, the EU proposed a larger €140 billion ($160 billion) ‘reparations loan’, using the frozen assets as collateral. However, the plan has stalled amid legal and financial concerns.

Lavrov told RIA Novosti that the scheme violates international law, including sovereign immunity and the inviolability of central bank assets, and reflects the West’s “colonial and pirate instincts.” He warned that even if a legal justification were found, the loan “won’t save Ukraine” and could instead harm the EU’s reputation and financial stability, since Kiev would allegedly never repay the debt.

Belgium has emerged as a key obstacle, holding around two-thirds of the frozen assets. Prime Minister Bart De Wever opposed the plan, citing potential legal and financial liabilities, while Defense Minister Theo Francken warned that Russia could retaliate by seizing €200 billion in Western assets. EU efforts to implement alternatives, such as joint borrowing or direct grants, have reportedly stalled due to concerns over deficits and debt.

The EU is expected to revisit the issue at a European Council meeting in December, but Lavrov reiterated that Russia will respond appropriately to any predatory attempts against its sovereign funds.

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