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Kremlin: Russia’s reserves and assets in Western countries have already been “stolen”

by Ayaz Ahmet
July 3, 2023
in World
1 min read
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A Kremlin spokesman said on Monday that Russian reserves and assets in Western countries have already been plundered.

The Kremlin added that the theft of Russian property abroad violates all laws and customs.

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Some Western countries have called for the confiscation of Russian assets frozen by the European Union to finance the reconstruction of Ukraine after the Russian invasion.

In response to what Russia is calling a military operation in Ukraine and the West is calling it an invasion, Western countries have frozen assets owned by Russian individuals and businesses and some $300 billion in central bank reserves.

This is half of Russia’s gold and foreign exchange reserves, which before the start of the war on February 24 amounted to about 640 billion dollars.

The European Commission said it could resort to checking whether frozen Russian assets to finance Ukraine could be confiscated under national and EU law, but made no mention of central bank reserves. Several EU officials have warned that asset forfeiture is legally difficult because there are no EU laws for it.

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