Moscow: Russia has issued a stern warning to countries and individuals considering the seizure of its frozen assets, declaring that those involved will face consequences. Kremlin spokesman Dmitry Peskov emphasized during a press conference that any attempts to confiscate or benefit from Russia’s assets would result in prosecution, holding both individuals and nations accountable for such actions. Peskov assured that these acts would not go unanswered.
According to Qatar News Agency, the issue of frozen Russian assets emerged following the Russian military operation in Ukraine on February 24, 2022. In response, the European Union (EU) and the G7 took measures to freeze approximately $300 billion in Russian sovereign reserves. The European Commission reported last August that Ukraine had benefited from EUR 9 billion in proceeds from these frozen assets since the start of the year.
In reaction to these international measures, Russia has implemented reciprocal restrictions. Assets and returns of foreign investors from countries deemed unfriendly are placed in special “C” accounts within Russia. Withdrawal of these funds is contingent upon approval from a designated Russian government commission.