Kremlin condemns EU transfer of frozen Russian asset profits to Ukraine as 'theft'
Quick Look
Kremlin spokesman Dmitry Peskov condemned the EU's transfer of profits from frozen Russian assets to Ukraine as theft, following reports that €8 billion has been handed over.
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Why It Matters
About $300 billion in Russian funds were blocked by the US and EU after February 2022, with $240 billion held at Euroclear.
The EU is committing “theft” by handing over profits from frozen Russian assets to Ukraine, Kremlin spokesman Dmitry Peskov has said.
Some $300 billion in Moscow’s funds were blocked by the US and EU after the escalation of the Ukraine conflict in February 2022. Around $240 billion of the sum is still being held at the Belgium-based clearing house Euroclear.
On Wednesday, high-ranking Russian Foreign Ministry official Vladislav Maslennikov told RIA Novosti that Brussels has already transferred €8 billion ($9.1 billion) in income generated by the frozen Russian assets to the government in Kiev.
When asked to comment on the development by journalists on Thursday, Peskov replied by saying that Moscow considers such actions as illegal.
“We truly believe this is theft. And we treat it accordingly, nothing has changed in our position here,” the spokesman noted.
Open Questions
- How will Russia retaliate against Euroclear or the EU?
- Will other Western nations follow the EU's transfer model?
