Russia vows retaliation over EU's plan to redirect frozen assets to Ukraine

- Russia will not leave unanswered the EU's decision to transfer the revenues from frozen Russian assets to Ukraine - said the press spokesman of the Russian president, Dmitry Peskov, quoted by the TASS agency. He also warned Europeans that by such actions, they "cut off the branch they are sitting on".

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- Europeans will understand that we will question this decision. It may be a matter not of a year, but of decades, but we will not leave it as is – said Dmitry Peskov about EU plans to transfer revenues from frozen Russian assets to Ukraine.

Peskov pointed out that if such a decision is made, Europeans "will destroy their own investment attractiveness, the foundations of commercial law, the foundations of their economy".

- Since private property or the right of a state to its property is sacred, it cannot be touched. And if they violate it once, they will face an immediate reaction from investors and destroy the reputation they have worked for many decades. To put it simply, they are cutting off the branch they are sitting on – explained.

Last week, a summit of EU leaders began, during which a plan to transfer profits from frozen Russian assets for the purchase of weapons for Kyiv was discussed.

The head of European diplomacy, Josep Borrell, presented the plan according to which the European Union would allocate 90 percent of the revenues from Russian assets frozen in Europe for the purchase of weapons for Ukraine. Borrell believes that such a decision by the member states could mean transferring about £2.7 billion per year for Ukraine.

Following Russia's invasion of Ukraine in February 2022, Western countries decided to freeze nearly half of Moscow's currency reserves, amounting to about £270 billion. About £180 billion of these funds are located in the European Union, mainly in Euroclear - an international financial institution that ensures the safety of assets for banks, stock exchanges, and investors.

Source: TASS Agency, WP News