Kremlin warns seizure of Russian assets ‘will not be left unanswered’

Moscow: The Kremlin has warned that seizure of Russian assets will not be left unpunished for its masterminds and Russia will use all available legal means to punish them, local media reported on Friday.

“We have repeatedly said that all actions related to expropriations of Russian assets will not be left unanswered. Those who made decisions collectively, those who made decisions individually and those who put them into practice will all bear responsibility,” Russian Presidential Press Secretary Dmitry Peskov said, state-run news agency Tass reported.

“To that end, all possible legal mechanisms will be used,” he added.

Meanwhile, the leaders of the European Union have failed to reach a deal on a reparations loan for Ukraine, raising a joint debt of 90 billion euros instead of a financing loan. Hungary, the Czech Republic, and Slovakia will not be part of the scheme, Euro News reported.

EU leaders will raise 90 billion euros in joint debt to fund Ukraine for the next two years after they failed in their plan to issue a reparations loan. EU leaders agreed to issue joint debt to keep Ukraine afloat in 2026 and 2027 against the bloc’s common budget after they faced a stalemate over Belgium’s demand to secure unlimited guarantees before using the immobilised Russian assets hosted in the country.

Prior to the summit held in Brussels on Thursday, EU leaders had suggested that there was no plan B and made efforts to provide a reparations loan to Ukraine, supported by the Russian Central Bank’s immobilised assets. German Chancellor Friedrich Merz led the efforts, but he was unsuccessful to secure loan for Ukraine as Belgian demands for unlimited guarantees made it impossible.

Following the summit, European Commission President Ursula von der Leyen, accompanied by Danish Prime Minister Mette Frederiksen, said the primary goal of funding Ukraine has been achieved.

Speaking to reporters, Frederiksen stated: “The bottom line, after today, is that our support for Ukraine is guaranteed.”

Prior to the summit, Hungary had indicated that it would not agree to the EU’s plan for providing a reparations loan to Ukraine. Hungarian Prime Minister Viktor Orban has refused to give financial support to Ukraine and has repeatedly criticised European leaders for their handling of the Russia-Ukraine conflict.

IANS