Kremlin threatens legal action over use of frozen Russian assets for Ukraine

Dmitry Peskov, the spokesman for Russian President Vladimir Putin, has said that if the West decides to use Russia's frozen assets, this will be profoundly unlawful and will entail very lengthy judicial proceedings.

Source: Russian news agency Interfax

"If such decisions are made, they will be profoundly unlawful, and they will have very lengthy judicial proceedings for those who make those decisions and those who implement those decisions, for many decades," the Kremlin spokesman said.

Peskov was commenting on reports that the G7 and EU countries are discussing the possibility of using frozen assets of the Russian Central Bank as collateral for bonds to finance Ukraine.

"Of course the Russian Federation will challenge such decisions. We will defend our interests, we will protect our illegally seized assets," he stressed.

Peskov called the use of seized Russian assets "an encroachment on someone else's property" that undermines the foundations of the entire economic system, including that of the countries that will implement such decisions.

Background:

The G7 countries and the European Union are discussing a plan to use over US$250 billion of frozen Russian Central Bank assets as collateral to help finance Ukraine's recovery.

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