Moscow has issued a stern warning to the European Union regarding its plans to utilize frozen Russian assets to fund Ukraine. The Russian Ambassador to Germany, Sergey Nechayev, cautioned that such a move would have “far-reaching consequences” for the bloc.
In a statement released yesterday, Nechayev asserted that any action involving sovereign Russian assets without Russia’s explicit consent would be considered theft. He emphasized that appropriating Russian state funds would inevitably trigger significant and lasting repercussions.
The Ambassador further warned that this “unprecedented step” would damage the EU’s commercial reputation and embroil European governments in endless legal battles. He characterized the European plan as a path towards legal chaos and the destruction of the foundations of the global financial system, arguing that the EU would be the first to suffer the consequences.
“We are confident that this is understood in both Brussels and Berlin,” Nechayev concluded.
These remarks come as EU leaders explore ways to bolster Ukraine’s resilience amidst mounting battlefield pressures. Last Wednesday, the EU unveiled a plan to use frozen Russian assets to help finance Ukraine with 90 billion euros over the next two years, despite opposition from Belgium, where the majority of these assets are held. Belgium, home to the Euroclear financial services group which manages a substantial portion of the frozen assets, fears potential legal ramifications.
The Kremlin has previously condemned the plan to use frozen assets as a dangerous overreach and an “illegal seizure of Russian property,” vowing a response from Moscow without specifying the nature of potential countermeasures.
