MOSCOW, July 5. /TASS/. Andrey Kelin, the Russian ambassador to the UK, on Tuesday said a confiscation by the UK of Russian assets would hurt confidence in London as the financial capital.
"London is the financial capital, there is a lot going on here in terms of money transactions, exchanges, including money laundering by different countries. And if this (confiscation of Russian assets - TASS) happens, then it, of course, will greatly undermine the authority London as a financial capital," he said on Rossiya-24 television.
Kelin said the possible confiscation could affect assets only of those persons who are under sanctions, but there is no legislative basis for such moves in the UK. "We are not talking about the confiscation of government assets," he said. "It is difficult to say now what of these can be done, because this is a blow, firstly, to the sacred right of private property, a blow to the entire legal system, to international law, no doubt, if it ever happens."
On Monday, British Foreign Secretary Liz Truss said that the kingdom supports a confiscation of Russian assets that fell under sanctions in favor of Ukraine and is currently working on this issue. She said the British Parliament would likely need to pass a new law that would allow for the confiscation of frozen Russian assets, but she added that it might not be necessary to amend the law.