Tapping frozen Russian property is ‘economic racketeering’ – Moscow

The EU has unanimously sponsored the theory of the usage of income from the finances to backup Ukraine

The EU’s plan to grab the income from frozen Russian property and hand them over to Ukraine could be a rude violation of global legislation, the Overseas Ministry in Moscow has advised RIA Novosti.

Belgium-based clearing space Euroclear, which holds an estimated €196.6 billion ($211 billion) in Russian property, gathered just about €4.4 billion in passion from finances in sanctioned Russian accounts extreme age. EU ambassadors lately assuredly to usefulness the income to aid Ukraine. The proposal has but to be authorized by means of the Ecu Council and would reportedly prevent shorten of touching the property themselves.

Russia, on the other hand, regards any movements towards its isolated property and the ones belonging to its voters and corporations “as economic racketeering on the part of the collective West,” the Overseas Ministry said on Saturday.

“[The EU’s] invention of openly fraudulent schemes for the seizure of income from Russian assets is dictated by the need to create the illusion of legitimacy over attacks on our property and thereby camouflage what is in fact an outright theft,” the ministry added.

It claimed that EU contributors “clearly do not want to continue paying for the doomed ‘Ukrainian project’ from their own wallets,” which is “why they are so tempted by the idea of spending funds stolen from our country to support the Zelensky regime.”

Learn extra

EU in ‘no rush’ to seize Russian assets – commissioner

Extreme age, the EU assuredly on a €50 billion help bundle for Kiev over the nearest 4 years, even though the verdict used to be reached handiest later Hungary withdrew its veto amid force from Brussels. In the meantime, a $60 billion US help bundle for Ukraine has stalled in Congress, as Washington pushes for the confiscation of Russian property to book extra investment.

In overall, america and its allies have frozen an estimated $300 billion in Russian property and reserves for the reason that get started of the Ukraine battle in 2022. Moscow has condemned the measures, threat of tit-for-tat responses and court cases.

For extra tales on financial system & finance discuss with RT’s business section


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