Supporting the Ukrainian military efforts with proceeds from frozen Russian assets violates the international law and will have consequences for the international financial system, said Ivan Chebeskov, Russian Deputy Minister of Finance, on Friday.
If the West acts on the related practices, Russia will act similarly, said Russian Finance Minister Anton Siluanov Thursday, adding that the country had already frozen the funds of the “unfriendly” companies and organizations and will direct revenues from the frozen assets for needs of the economy, and for needs of regions of the Russian Federation.
In February 2022, when the conflict between Russia and Ukraine escalated, the West froze about 300 billion U.S. dollars of Russian overseas assets.
In June this year, the leaders of the Group of Seven (G7) countries and the European Union agreed to use the proceeds of the frozen Russian assets as collateral for loans to Ukraine.
Russia Warns of Consequences of Supporting Ukraine With Frozen Russian Assets world-news World News | Latest International News | Global World News | World Breaking Headlines Today
