Contact Us

'Attempt to legalize theft': Russia slams EU decision to use profits from its frozen assets

The European Union will feel the "full measure" of Russian retaliation over its plan to use income from frozen Russian assets to help Ukraine, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.

Agencies and A News WORLD
Published May 23,2024

Russian Foreign Ministry spokeswoman Maria Zakharova on Thursday slammed the EU decision to use revenues from Russian frozen assets as "an attempt to legitimize theft."

The 27-member bloc has formally agreed to use windfall profits from roughly $300 billion frozen Russian assets to buy arms for Kyiv. The assets were frozen soon after Moscow launched its "special military operation" in Ukraine in 2022.

Zakharova, in response to a question by Anadolu during a news conference in Moscow, said such actions of European politicians demonstrate that the continent cannot be considered as "reliable entity" for foreign investors anymore.

"Is this the first time the collective West has done this? Of course not, but this once again confirms that the European Union can no longer be considered as a reliable legal entity for foreign investors, whose investments can be confiscated or looted at any moment under one pretext or another," she stressed, and rejected claims that revenues from assets are not their part.

She said many investors have started withdrawing their assets from Western jurisdictions, and after the EU's "unprecedented lawless decision" on Russia this process will accelerate significantly."

"The future is obvious for new centers of power that are ready to cooperate on an equal and mutually beneficial basis without ultimatums, without illegal restrictions, without illegal confiscations," she said.

Zakharova admitted that disputes, different points of view, and claims to each other may take place, noting they should be resolved in court in arbitration on the basis of the relevant applicable laws, procedures and rules, which are the same for everyone.

The spokeswoman highlighted that contrary to slogans about help to Ukraine, the EU plans to use the Russian money for the support of its military industries while Kyiv will get "complete destruction, collapse."

The West persists in its stance on waging the war despite the defeat that Ukraine's troops have been recently experiencing on the battlefield, leading to the complete destruction of the country, she argued.

If there were plans to rebuild Ukraine, the West would use this money for some peaceful things, including reconstruction, humanitarian aid, she stressed, noting that the Westerners call Ukraine's support funds "peace funds" while using money to fuel the conflict.

"The Russian side categorically rejects such a decision and will take all necessary measures to unconditionally protect its national interests, including lawsuits. There is no doubt that the European Union will fully experience the effectiveness of our response," she pledged.

Turning to the situation in Palestine, Zakharova said the U.S. position on the Middle East conflict is "destructive primarily for the countries of the region," and that Washington "shows double standards, opposite approaches" to the basic things and principles, including international legislation.