Russia today warned that it will retaliate against any European country trying to seize its assets after reports the European Commission may use frozen Russian funds to support Ukraine.
Around 300 billion dollars in Russian sovereign assets were blocked by the United States, United Kingdom and EU after the 2022 invasion of Ukraine.
Local media reported that European Commission President Ursula von der Leyen seeks new methods to finance Ukraine’s defense using cash balances tied to these frozen funds.
It said the EU may use Russian deposits at the European Central Bank to fund a Reparations Loan for Kyiv.
The U.S. and its allies prohibited transactions with the Russian central bank and finance ministry after President Vladimir Putin sent his army into Ukraine in 2022, and blocked $300-$350 billion of sovereign Russian assets, mostly European, U.S. and British government bonds held in a European securities depository.
