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Moscow to respond to EC’s expropriation of €1.5 bln worth of proceeds from Russian assets

Such illegal actions should not be followed by a swift response, it should be well-thought-out and fully meet Russia’s interests, Dmitry Peskov noted

MOSCOW, July 26. /TASS/. Russia will not leave expropriation of €1.5 bln worth of proceeds from reinvestment of frozen Russian assets to the European Commission (EC) funds for Ukraine unanswered, Kremlin Spokesman Dmitry Peskov said.

The EC announced this decision earlier, saying that the funds would not go directly to Kiev. Instead they will be channeled through the European Peace Facility and to the Ukraine Facility to support Ukraine's military capabilities as well as to support the country's reconstruction. The next tranche is expected in March 2025.

Such illegal actions should not be followed by a swift response, it should be well-thought-out and fully meet Russia’s interests, Peskov noted. "Of course, such steps by the European Commission will not remain unanswered," he said.

The European Peace Facility is used to compensate EU countries for supplies of weapons to Kiev (on average at the level of payment of 40% of the cost of weapons and ammunition delivered), while funds from the Ukraine Facility are used to pay for supplies of electric generators, for example. The EC oversees both funds.

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