According to sources, leaders of the Group of Seven major industrialized countries will discuss at a meeting in February a new legal theory that would allow the seizure of frozen Russian assets, Reuters reports.
Kremlin spokesman Dmitry Peskov said any such step by the West would amount to “theft” and violate international law.
“This is a serious blow to the fundamental parameters of the international economy, it undermines the international economy,” Peskov said. According to him “such actions are fraught with very, very serious consequences.”
Peskov said they also have a specific list of Western assets that Russia could seize in retaliation, but he declined to specify which assets are on that list.
Following Russia’s full-scale invasion of Ukraine, the United States and its allies banned transactions with the Russian central bank and finance ministry, stranding some $300 billion in Russian sovereign assets in the West.
In recent months, U.S. and British officials have worked to step up efforts to seize Russian assets. G7 leaders are expected to make a strong statement in favor of an asset freeze after their February meeting.
The legality of Russia’s seizure of sovereign assets is unclear, and Russia has repeatedly said it will challenge any seizure in court.
Supporters of the asset freeze argue that the frozen Russian money should be given to Ukraine to rebuild the war-torn country or even to fight Russian forces.
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2023-12-29 14:01:18
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