Kremlin: Seizing Russian assets would affect global economy

Kremlin spokesman Dmitry Peskov reacted to Western countries' attempts to seize frozen Russian assets, saying, "We have repeatedly said that decisions to seize other people's assets will have a very serious impact on the global economy."

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Peskov answered journalists’ questions on the issues on the agenda in the capital Moscow.

Commenting on US President Joe Biden’s statement that they are working to ensure the delivery of humanitarian aid to Gaza, Peskov said, “We are ready to support any action that will ensure the release of hostages and a ceasefire.”

Emphasizing that the steps to be taken on Gaza must be constructive and inclusive, Peskov said, “The steps to be taken must be within the framework of the previously approved and well-known United Nations Security Council resolutions.”

Peskov criticized Western countries’ plans to take steps to seize frozen Russian assets, saying, “We have repeatedly said that decisions to seize other people’s assets would have a very serious impact on the global economy. It would have a serious impact on law, economic development and the investment climate.”

EU countries had frozen around 200 billion euros of the Russian Central Bank due to the war. Financial institutions holding Russian assets make a significant profit by reinvesting them as they come due.

For months, Union officials have been debating the legal and financial implications of freezing assets and the use of the proceeds without the owner’s consent.

The EU wants to target the revenues generated from it instead of the principal.

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