Russia has warned the European Union that it will deliver a “painful response” if Brussels proceeds with plans to use frozen Russian assets to fund a massive loan for Ukraine.
The warning came as EU leaders met in Brussels to discuss a proposal to create a 140 billion euro — or 163 billion U.S. dollar — reparations loan for Ukraine, backed by profits generated from Russia’s immobilized assets held in Europe.
Russian Foreign Ministry spokeswoman Maria Zakharova said any such action would violate international and contract law, calling the move “null and void” without Moscow’s consent. She added that “any confiscatory initiatives from Brussels will inevitably result in a painful response,” and that Russia would act based on “the principle of reciprocity.”
Zakharova also accused European governments of undermining investor confidence, warning that “Europe is no longer a safe haven for financial assets.” She said the EU’s proposed scheme proved that “trusting Western Europeans, including Euroclear, with your funds now risks their complete loss.”
The European Union insists the plan would not constitute full confiscation, as Russia would retain its legal claim to the assets. The measure remains under debate as part of broader Western efforts to support Ukraine’s recovery amid the ongoing war.
Credit to : APT