Russia Warns EU, Allies Over Frozen Asset Seizures

Russia has issued a stern warning to European countries against seizing its frozen assets, which amount to $300-$350 billion primarily held in government bonds across Europe, the U.S., and the U.K. This warning follows discussions within the European Union about using these assets to finance Ukraine's defense amid the ongoing conflict initiated by Russia's 2022 invasion. European Commission President Ursula von der Leyen is considering mechanisms such as a "Reparations Loan" funded by Russian deposits at the European Central Bank. Dmitry Medvedev, Russia's deputy chairman of the Security Council, declared that Russia will pursue legal and extra-legal actions against any EU states that attempt to confiscate its property, labeling such moves as theft. Russia also claims that such seizures would harm trust in Western bonds and currencies. The situation underscores escalating tensions between Russia and the West over financial measures linked to the Ukraine war.