NEW DELHI: Issuing a stern warning to the West, Russian officials have asserted that any attempt to seize frozen Russian assets will be met with a severe response, promising “endless” legal challenges and tit-for-tat measures.
Maria Zakharova, spokeswoman for the Russian foreign ministry, said on Sunday that Russia would contest any such actions through legal means, promising retaliatory measures in kind.
Zakharova conveyed Russia’s firm stance, stating unequivocally that Russian territories, particularly those annexed from Ukraine, were not up for negotiation. “Our motherland is not for sale,” Zakharova wrote on the Telegram messaging app.
The ongoing conflict between Russia and Ukraine has prompted the United States and its allies to impose sanctions, including the freezing of approximately $300 billion of Russian assets predominantly held in European financial institutions.
Dmitry Medvedev, a senior security official and ally of President Vladimir Putin, also warned of reciprocal measures if the US proceeded with plans to confiscate Russian reserves. He hinted at the possibility of seizing assets belonging to American citizens and investors in Russia as a retaliatory move.
The proposed US legislation allowing the confiscation of Russian assets held in American banks has drawn criticism from Moscow, with Medvedev labeling it as illegal and grounds for retaliation. Despite assertions that Russia lacks substantial American assets to seize, Medvedev suggested alternative measures, including the foreclosure of private property owned by individuals within Russian jurisdiction.
“Yes, this is a complex story, since these individuals usually acted as investors in the Russian economy,” Medvedev said. “And we guaranteed them the inviolability of their private property rights. But the unexpected happened – their state declared a hybrid war on us. This must be answered.”
The potential seizure of assets would require changes to Russian law, as noted by Medvedev, who proposed amendments to facilitate asset seizures in favor of the state.
Elvira Nabiullina, governor of the Russian Central Bank, affirmed Moscow’s commitment to defending its interests in the event that its assets were confiscated while withholding specific strategies that will be used to respond.
(With agency inputs)
Maria Zakharova, spokeswoman for the Russian foreign ministry, said on Sunday that Russia would contest any such actions through legal means, promising retaliatory measures in kind.
Zakharova conveyed Russia’s firm stance, stating unequivocally that Russian territories, particularly those annexed from Ukraine, were not up for negotiation. “Our motherland is not for sale,” Zakharova wrote on the Telegram messaging app.
The ongoing conflict between Russia and Ukraine has prompted the United States and its allies to impose sanctions, including the freezing of approximately $300 billion of Russian assets predominantly held in European financial institutions.
Dmitry Medvedev, a senior security official and ally of President Vladimir Putin, also warned of reciprocal measures if the US proceeded with plans to confiscate Russian reserves. He hinted at the possibility of seizing assets belonging to American citizens and investors in Russia as a retaliatory move.
The proposed US legislation allowing the confiscation of Russian assets held in American banks has drawn criticism from Moscow, with Medvedev labeling it as illegal and grounds for retaliation. Despite assertions that Russia lacks substantial American assets to seize, Medvedev suggested alternative measures, including the foreclosure of private property owned by individuals within Russian jurisdiction.
“Yes, this is a complex story, since these individuals usually acted as investors in the Russian economy,” Medvedev said. “And we guaranteed them the inviolability of their private property rights. But the unexpected happened – their state declared a hybrid war on us. This must be answered.”
The potential seizure of assets would require changes to Russian law, as noted by Medvedev, who proposed amendments to facilitate asset seizures in favor of the state.
Elvira Nabiullina, governor of the Russian Central Bank, affirmed Moscow’s commitment to defending its interests in the event that its assets were confiscated while withholding specific strategies that will be used to respond.
(With agency inputs)