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West should assess risks of Russia's response to asset confiscation — Foreign Ministry

Russian Deputy Foreign Minister Alexander Pankin noted that retaliatory measures "can be both symmetrical and asymmetrical in a variety of instruments, including legal, financial, and administrative"

KAZAN, May 16. /TASS/. Representatives of Western business circles are calculating the risks of Russia's response to the confiscation of Russian assets, Russian Deputy Foreign Minister Alexander Pankin told reporters on the sidelines of the "Russia - Islamic World: KazanForum" international economic forum.

Earlier, Estonia passed a law legalizing the use of part of the frozen Russian assets in the country to compensate for damage to Ukraine.

"More sensible business and political circles [in the West] weigh all risks, including for themselves, and the risks of retaliatory measures on our side, which can be both symmetrical and asymmetrical in a variety of instruments, including legal, financial, and administrative," Pankin answered a question from TASS about whether other EU countries could introduce similar legal acts.

He added that Estonia is violating international law and committing theft by allowing seized Russian assets to be used for transfer to Ukraine.

The 15th International Economic Forum "Russia - Islamic World: KazanForum 2024" is being held on May 14-19 in Kazan. This year's keynote is "Trust and Cooperation." The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of the Organization of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.

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