Confiscation of Russian assets would completely undermine trust in EU — lawmaker
Anatoly Aksakov also noted that such actions by the European Union would constitute a violation of international law
MOSCOW, December 8. /TASS/. The European Union’s confiscation of Russia’s frozen assets would completely destroy trust in the European Union as a potential partner, Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov told TASS.
"In my view, trust in the European Union as a reliable, lawful, and bona fide partner has already been damaged. And if they take this further step, it is obvious that trust in this entity will be completely undermined," he said.
Aksakov also noted that such actions by the European Union would constitute a violation of international law. "In my opinion, what the European Union is doing now — withholding the interest accrued on the funds we placed in Europe — already contradicts all international norms. All the more so when it comes to encroachment on our assets located there. Accordingly, if they decide to use our funds for their own purposes, this will amount to a violation of international law," he said.
In addition, Aksakov said Russia has at its disposal a comparable volume of nonresident assets located within Russian jurisdiction, which the Russian side could seize in response — though such actions must be taken carefully. "Indeed, there are assets against which we could enforce claims, offsetting what they [the EU] are preparing to steal from us. But I believe we must act very cautiously here, because some assets belong to bona fide individuals who are not at fault; they simply cannot act more openly due to political pressures," the lawmaker noted.
According to a report by the Financial Times, the European Union has identified a legal loophole that would allow it to permanently block Russia’s frozen assets, bypassing the requirement for unanimous approval by all member states.
Earlier, the European Commission unveiled its plan to expropriate all Russian assets frozen in Europe - totaling 210 bln euro - under the guise of a "reparations loan" scheme intended to finance Ukraine in 2026-2027. The Commission also called on Western countries outside the EU to join the initiative.