Russia Promises Retaliation Over EU's Frozen Asset Plans

Russia warned it would deliver a 'painful response' if the EU moves to use frozen Russian assets for a reparations loan to Ukraine. Russian Foreign Ministry spokeswoman Maria Zakharova stated any action without Russia's consent is void, emphasizing potential consequences under the EU's proposed financial scheme.

In Moscow on Thursday, Russia issued a stern warning of 'a painful response' to any European Union initiatives aimed at seizing its frozen assets. This statement was timed with EU leaders convening in Brussels to explore leveraging these assets for a substantial reparations loan to Ukraine, valuing at 140 billion euros ($163 billion).

Maria Zakharova, Russian Foreign Ministry spokeswoman, asserted that any unauthorized actions concerning Russian assets are legally invalid, urging that the acquisition of these funds would harm those attempting to expropriate them. She emphasized that any confiscation attempts would prompt retaliatory measures from Russia, based on reciprocity and the need for reparation.

The EU's plan would not outright confiscate the assets, with Russia maintaining claims to deposits held in Euroclear. However, Zakharova criticized Europe for endangering financial security, warning potential investors of Europe's diminishing status as a reliable financial safe haven.

(With inputs from agencies.)