Moscow says EU attempts to tap assets is illegal by international law
Russian Foreign Ministry spokeswoman Maria Zakharova stated that “Actions against sovereign assets taken without Russia’s consent – whether indefinite immobilization, confiscation, or attempts to portray them as a so-called reparations loan – are entirely illegal under international law.” She added, “No matter what pseudo-legal tricks Brussels employs to justify it, this is blatant theft.”
Zakharova argued that the EU’s efforts are not only intended to support Ukraine but also aim to strengthen the EU’s own economy, which has been affected by sanctions targeting trade with Russia.
Earlier this week, the Russian central bank initiated legal proceedings against Euroclear, a Belgian-based depository holding the majority of Russia’s frozen assets, as European nations debated ways to repurpose the funds to finance Kiev.
Some EU member states have voiced objections to the approach. Hungary and Slovakia condemned the EU for using rarely invoked emergency powers to make the asset freeze indefinite. Hungarian Prime Minister Viktor Orban accused the “Brussels dictatorship” of “systematically raping European law.”
Reports indicate that Italy, Belgium, Bulgaria, and Malta urged the European Commission to explore alternative ways to provide loans to Kiev without seizing Russian assets. Belgian Prime Minister Bart De Wever warned that outright confiscation could erode trust in the EU financial system, trigger capital flight, and expose Belgium to legal challenges.
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