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Russia to regard seizure of state assets by US, EU as breach of ties, warns finance chief

Anton Siluanov recalled that Russia's state assets enjoy protection under international legal rules governing sovereign immunity

MOSCOW, June 23. /TASS/. Russia will regard the possible seizure of its frozen sovereign assets by the US and EU as a breach of relations, Finance Minister Anton Siluanov warned on Thursday.

"Russia’s Finance Ministry from the very beginning was prepared to ‘buy out’ the frozen Central Bank reserves and to use them for payments to investors. But they said ‘no’," the minister said.

Russia does not have commercial assets abroad, while its state assets enjoy protection under international legal rules governing sovereign immunity, Siluanov said.

"If we go that far in our relations," this will be tantamount to a breach of ties and an open conflict, the minister said. "Russia will be forced to respond in ways outside the legal framework," he added.

The ministry earlier said it would pay rubles to holders of its Eurobonds, which can later be converted into foreign currency at the exchange rate on the day of payment. Investors can convert the ruble payments into any currency and transfer them abroad, the ministry stressed.

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