By Ekene Oramalu
Russia has warned
European governments that it will pursue any state that confiscates or
redirects its frozen assets to fund Ukraine, in a threat that raises tensions
between Moscow and the European Union.
The warning follows renewed
discussions in Brussels about using an estimated $300–$350 billion in frozen
Russian funds to support Ukraine’s defence and reconstruction. European
Commission President Ursula von der Leyen has described the measure as a way of
holding Moscow financially accountable for the devastation caused by its
invasion.
Dmitry Medvedev,
Russia’s former president and current deputy chairman of the Security Council,
said on Monday that Moscow would take action “by all possible means”, including
prolonged court battles and “out-of-court” measures, against any country or
official involved in asset seizure. He suggested the pursuit could last “until
the end of the century,” underscoring the Kremlin’s determination to deter such
moves.
Moscow argues that
seizing state property would amount to theft and undermine the reliability of
Western financial systems, discouraging other nations from keeping reserves in
European markets. European leaders, however, maintain that Russia should bear
the costs of rebuilding Ukraine, with frozen assets offering a direct path to
reparations.
Legal experts warn that
confiscating sovereign assets is fraught with challenges, requiring complex
justifications under international law and carrying risks of retaliation.
Analysts say Moscow could respond with countersanctions, asset seizures of its
own, or long-running diplomatic disputes.
The dispute highlights
how financial measures have become a central front in the war, extending far
beyond the battlefield. For Europe, the debate pits the need to sustain Ukraine
against fears of setting a precedent that could reshape global trust in Western
financial institutions.
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