After the 2022 In February, Russia launched a large-scale invasion of Ukraine, hundreds of billions of dollars worth of Russian central bank assets were frozen in the EU and other countries.
Now the possibility of full confiscation of Russian assets, or at least the interest received for them, is being discussed in the United States, the United Kingdom and the European Union.
The need to confiscate Russian money is mentioned not only by the great power’s allies, but also by Lithuania itself.
In addition, there have been suggestions to transfer these funds to Ukraine, and representatives of Ukraine themselves are calling for this to be done.
Russian propagandists are not silent and resorted to threats
The Russian news portal “News.ru” announces that the European Union agrees to give Ukraine 90% of interest that has accrued due to the funds belonging to the Russians that have been frozen until now.
The portal, among other things, quotes German Chancellor Olaf Scholz, who visited Lithuania, who, as written, confirmed that the majority of those funds could be used for the defense of Ukraine.
However, Kremlin spokesman Dmitry Peskov hinted that Moscow could seize foreign assets in Russia if steps were taken to seize Russian assets abroad.
“It goes without saying that Russia will use legal means and fully defend its interests,” D. Peskov said in an interview with Russian media.
He also warned that if Russian assets are touched, the West may lose the trust of other foreign investors.
“Credibility disappears overnight because of a stupid, thoughtless decision,” the propagandist ambiguously threatened.
The G-7 position on this issue is not unanimous
At the time, the Financial Times notes that the issue of confiscation of Russian assets is dividing the club of advanced economies (G-7).
It is true that the US President Joe Biden’s administration, as well as Canada, some members of the United Kingdom’s government, and especially its foreign secretary David Cameron, have supported calls for asset confiscation.
However, countries such as Japan, France, Germany, Italy and the EU itself remain cautious, so the issue, according to the portal, has reached an impasse.
According to Reuters news agency, about 70 percent all Russian assets frozen in the West are kept in the central securities depository “Euroclear” located in Belgium.
It is in this financial institution that 190 bln. EUR (US$204.67 billion) worth of Russian Central Bank securities and cash.
