Kremlin Warns of Retaliation if US Seizes Frozen Russian Assets

Written by Camilla Jessen

Apr.22 - 2024 11:47 AM CET

Photo: Wiki Commons
Photo: Wiki Commons
The Kremlin threatened legal proceedings if Russian assets in the United States are seized.

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The Kremlin has issued a warning in response to a bill approved by the US House of Representatives that provides for the seizure of frozen Russian assets to support Ukraine.

Russian Presidential Press Secretary Dmitry Peskov stated that any such seizure would lead to retaliatory actions and legal proceedings, causing severe damage to US economic interests. This development was reported by Interfax.

Threat of Legal Consequences

Peskov described the seizure of Russian assets as "illegal" and indicated that Russia would not only respond with retaliatory measures but also pursue legal action.

"This in no way can be perceived as some kind of legal actions, they are illegal, and, accordingly, they will one way or another be the subject of some kind of retaliatory actions and the subject of legal proceedings," Peskov told reporters on Monday, commenting on the bill passed by the US House of Representatives allowing the seizure of frozen Russian assets to aid Ukraine.

The Russian official suggested that the potential impact of such measures could extend beyond legal consequences. He warned that it could make many countries and investors hesitant to invest in the American economy or store their holdings there.

"It will cause great damage to the economic interests of the United States,” the Kremlin spokesman continued.

Reactions to Asset Seizure Plans

Peskov stated that the Kremlin views plans to seize Russian assets with an "extremely negative" attitude, describing the action as "nothing more than the destruction of all the foundations of the economic system, an encroachment on state property, on state assets, and on private property."

The presidential press secretary pointed out that discussions on the possibility of confiscating Russian assets are taking place not only in the United States but also in Europe.

“The most compelling call to consider such issues more cautiously came from Christine Lagarde, Chairwoman of the European Central Bank, who said that the potential adoption of such a decision could lead to the collapse of the existing economic system,” Peskov said.

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