Kremlin has expressed its strong opposition to the European Union's plan to use proceeds from frozen Russian assets. Dmitry Peskov, the Kremlin spokesman, did not mince words when he described the move as a violation of global economic norms, Reuters and BTA reported.
This week, the Belgian government revealed that EU countries have agreed on a strategy to distribute the profits from the Russian central bank's frozen assets within the EU to support Ukraine's defense efforts.
The decision comes after the G7 countries froze an estimated $300 billion in Russian financial assets following Russia's military intervention in Ukraine in 2022.
The EU expects that these assets could generate profits of between €15-20 billion by 2027.
Peskov stressed that the EU seems to be acting cautiously, fully aware of the potential backlash and the inevitable consequences of such a decision. Opting for what he called a “softer option” instead of outright confiscation of assets, the EU's approach is still seen as unacceptable by Russia, equating it to expropriation.
The Kremlin is closely monitoring how the EU plan develops and is in the process of formulating its response.
This situation underscores the escalating tensions and complex dynamics of the international arena, especially regarding the economic consequences of geopolitical conflicts.