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Russia Vows Swift Retaliation Over EU Asset Immobilization
(MENAFN) Russia has pledged immediate countermeasures following what it characterizes as unlawful appropriation of its financial holdings by the European Union, according to Russian Foreign Ministry spokesperson Maria Zakharova in a Saturday announcement.
In her official declaration posted to the ministry's digital platform, Zakharova denounced Brussels' decision as a flagrant breach of global legal standards. She characterized the asset immobilization and potential seizure as unauthorized appropriation of Russian sovereign wealth conducted without Moscow's approval.
"Our response will not be delayed," she stated, revealing that the Bank of Russia has already initiated legal proceedings against Brussels-based central securities depository Euroclear, seeking compensation through Moscow's Arbitration Court.
The litigation targets Euroclear's allegedly improper conduct and the European Commission's exploration of deploying Russian holdings without proper authorization. Zakharova further condemned EU leadership, specifically singling out European Commission President Ursula von der Leyen, for obstructing diplomatic pathways toward settling the Ukraine conflict.
She cautioned that Brussels' strategy threatens to undermine not merely its internal economic infrastructure but also its international credibility, jeopardizing the bloc's standing as a dependable commercial and investment destination worldwide.
The EU declared Friday it would permanently maintain restrictions on Russian financial assets, enabling their deployment for Ukraine's fiscal and defense requirements.
The revised framework eliminates the prior mandate requiring complete consensus among all EU member states to prolong asset restrictions. During next Thursday's EU Summit, leadership will deliberate employing the immobilized funds as security for "reparation loans" destined for Ukraine.
In her official declaration posted to the ministry's digital platform, Zakharova denounced Brussels' decision as a flagrant breach of global legal standards. She characterized the asset immobilization and potential seizure as unauthorized appropriation of Russian sovereign wealth conducted without Moscow's approval.
"Our response will not be delayed," she stated, revealing that the Bank of Russia has already initiated legal proceedings against Brussels-based central securities depository Euroclear, seeking compensation through Moscow's Arbitration Court.
The litigation targets Euroclear's allegedly improper conduct and the European Commission's exploration of deploying Russian holdings without proper authorization. Zakharova further condemned EU leadership, specifically singling out European Commission President Ursula von der Leyen, for obstructing diplomatic pathways toward settling the Ukraine conflict.
She cautioned that Brussels' strategy threatens to undermine not merely its internal economic infrastructure but also its international credibility, jeopardizing the bloc's standing as a dependable commercial and investment destination worldwide.
The EU declared Friday it would permanently maintain restrictions on Russian financial assets, enabling their deployment for Ukraine's fiscal and defense requirements.
The revised framework eliminates the prior mandate requiring complete consensus among all EU member states to prolong asset restrictions. During next Thursday's EU Summit, leadership will deliberate employing the immobilized funds as security for "reparation loans" destined for Ukraine.
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