MOSCOW, October 22. /TASS/. EU countries are considering using frozen Russian assets to support Ukraine, despite legal and financial concerns; Russia is boosting non-commodity exports and redirecting trade toward friendly nations; and Fatah warns Hamas against retaining power in Gaza. These stories topped Wednesday’s newspaper headlines across Russia.
Vedomosti: EU mulls confiscation of Russian assets for Ukraine amid rising legal, financial worries
EU member states including Germany, France, Italy, Denmark, Finland, and Poland, along with the European Commission (EC), Norway, and the United Kingdom, are developing measures to "use the full value" of Russian assets frozen since 2022 to support Ukraine, according to a joint declaration by the leaders of these countries published on October 21. Earlier reports indicated that at the EU summit on October 23, a decision might be made on a "reparation credit" mechanism - effectively a confiscation of the frozen assets. Experts interviewed by Vedomosti believe that the seizure of Russian assets could destabilize the eurozone and trigger investor flight.
On October 10, the EC acknowledged that EU members had not reached a consensus and agreed only to continue talks. However, on October 20, EU foreign policy chief Kaja Kallas announced "progress" in negotiations. And on October 21, Politico reported that EU members had already reached agreement on a plan to use 140 bln euro of the total 210 bln euro in frozen Russian assets. Belgium, where most of these assets are held within the Euroclear system and which had earlier questioned the legality of the "reparation credit," reportedly assured the EU that it would not object.
Pavel Timofeev, head of the Department of Regional Issues and Conflicts at the Institute of World Economy and International Relations, told Vedomosti that Paris fears retaliatory seizures of French assets in Russia. The confiscation also threatens overall macrofinancial stability in the eurozone, which explains the stance of European Central Bank President Christine Lagarde, Director of the Franco-Russian analytical center Observo Arnaud Dubien told the newspaper. According to Dubien, taking Russian assets could prompt other investors - such as those from Middle Eastern countries - to withdraw their funds out of fear of becoming the next targets. He added that Paris anticipates a situation in which, if Russia does not pay reparations, France and other EU members would have to fund the so-called "reparation credits" from their own budgets. France, already in a fragile financial condition, would come under strong pressure from both the EC and Germany.
Furthermore, Euractiv reported on October 7, citing sources, that the EU still has not determined how to align the proposed "reparation credit" to Kiev with the credit based on profits from frozen Russian assets, valued at 45 bln euro.
Creating a legal mechanism for a "reparation credit" is hardly viable, given the principle of sovereign immunity of states, legal adviser to the Pen & Paper Bar Association Roman Kuzmin told Vedomosti. He noted that sovereign assets are safeguarded by international law and by the majority of national legislations across the EU.
Vedomosti: Russia boosts non-commodity exports, deepens trade with friendly countries
Russia is successfully shifting its exports to new markets and increasing the share of non-commodity, non-energy exports, Prime Minister Mikhail Mishustin stated at the international export forum "Made in Russia." The volume of such exports in the first half of the year accounted for more than 12% of GDP (projected at 217.3 trillion rubles or $2.67 bln for 2025), despite external pressure from "unfriendly" states. Exports, Mishustin emphasized, should serve as a catalyst for industrial renewal and improve enterprise efficiency. Experts interviewed by Vedomosti believe that Russia’s non-commodity export growth depends on maintaining high annual growth rates and strengthening ties with friendly markets.
Mishustin noted that Russian exports are now being reoriented toward the markets of the Eurasian Economic Union, the Commonwealth of Independent States (CIS), BRICS, and the Shanghai Cooperation Organization (SCO). Cooperation with countries in Asia, Africa, and Latin America is also expanding, he reminded.
The Prime Minister also noted that "unfriendly" states continue to purchase Russian goods, including energy resources, fertilizers, nuclear fuel, metals, fish, seafood, and other products. "In just the first half of this year, their spending on such imports exceeded $25.5 bln," he said.
To achieve a two-thirds increase in non-commodity, non-energy exports over the next five years, the average annual growth rate must be about 10.7%, Senior Researcher at the International Laboratory for Foreign Trade Research of the RANEPA Institute for Applied Economic Studies Vladimir Sedalishchev told Vedomosti.
The share of "friendly" nations in Russia’s export structure is expected to approach 90% this year and could exceed that mark in 2026 if current trends persist, Sedalishchev noted. In 2025, exports to friendly partners may account for roughly 87-90% of total exports, while the following year the figure could reach 95%, according to Associate Professor of the Department of Economic Theory at Plekhanov Russian University of Economics Ekaterina Novikova.
Exports to unfriendly countries still make up about 25% of the total, though their share is steadily falling, Sedalishchev added. He explained that Russia retains strong positions in certain goods, including metals, mineral fertilizers, specific chemical products, and rare materials. Alternatives are often more expensive, less reliable, or entirely unavailable, the expert said.
At the same time, the share of the ruble in settlements for goods and services has already exceeded 50%, which further strengthens the economy and encourages investment and business activity, the prime minister said, citing data from the Bank of Russia.
Izvestia: Fatah and Hamas dispute Gaza’s postwar governance
Plans by Hamas to maintain influence in the Gaza Strip during the transitional period are causing growing friction among Palestinian factions and raising doubts about the implementation of the US peace plan. The Fatah movement has urged Hamas not to give Israel any reason to resume hostilities, Fatah spokesman in Gaza Munther al-Hayek told Izvestia. According to him, there should be no role for Hamas in the postwar period - only the Palestinian Authority is capable of taking administrative control of the enclave.
On October 19, the Israel Defense Forces (IDF) reported that Hamas had breached the ceasefire: Israeli soldiers came under fire in Rafah, resulting in two deaths. Israel launched retaliatory strikes on Gaza, hitting around 100 targets. According to Palestinian sources, 45 people were killed in the attacks. Hamas denied responsibility, stating it does not control the southern part of the enclave.
"We have warned the Hamas movement not to give Israel a reason to restart the war. Unfortunately, certain violations have taken place, and we strongly reject them. However, we are observing changes in behavior, and we hope Hamas considers this," al-Hayek told Izvestia.
The Fatah representative stressed that the formation of a new government should be based on a technocratic approach, without the participation of faction members. Only an independent government, he said, would be able to begin rebuilding the enclave and secure international assistance.
"We demanded that Hamas step back from the administrative and governmental areas in the first months so that it would not participate in governance. We fully understand that there will be no aid or reconstruction in Gaza if Hamas remains in power. Hamas seeks to retain authority, but we are demanding its withdrawal. We reject the involvement of any factions in the future [technocratic] government," he explained.
The involvement of Hamas in forming a new governing body could hinder the implementation of the US peace plan, Iraqi expert Safaa al-Asam told Izvestia. "The very inclusion of Hamas representatives in creating a transitional government undermines the main idea of the American initiative - the demilitarization of Gaza and the transfer of power to forces not linked to armed groups," the expert said.
Izvestia: Russia to expand lending to foreign partners, boosting export ties, global influence
Over the next three years, Russia will provide loans totaling 1.8 trillion rubles ($22.12 bln) to foreign countries, which is 14% more than previously envisaged, according to the new draft budget reviewed by Izvestia. The funds will be directed toward long-term investments in partner economies, infrastructure projects, and purchases of Russian-made products. Experts interviewed by Izvestia noted that Russia’s growing foreign lending helps secure export markets, support domestic industries, and broaden geopolitical influence, though repayment risks remain.
The primary goal of intergovernmental lending is to promote national exports and strengthen the positions of Russian companies abroad, Vladimir Eremkin, Senior Researcher at the Laboratory for Structural Research of the RANEPA Institute for Applied Economic Studies told Izvestia. The funds, he said, are mainly used to finance deliveries of domestic equipment, machinery, and construction or engineering services.
"Typical examples include the construction of infrastructure and energy facilities abroad - nuclear power plants, hydroelectric and thermal stations, gas pipelines, and transport hubs," the expert added.
Loans are largely granted to Russia’s strategic partners and to countries where its key interests lie. According to Eremkin, the closest economic ties have developed with members of the Eurasian Economic Union - Belarus, Armenia, Kyrgyzstan, and Kazakhstan. These nations receive funding for integration projects and to deepen allied relations. Additionally, part of the lending is directed to Asia (Vietnam, Mongolia, and India), Africa and the Middle East (Egypt, Turkey, and Algeria), as well as Latin America (Nicaragua and Cuba).
The program focuses primarily on constructing nuclear power plants and supporting exports of Russian advanced products, according to Igor Rastorguev, Leading Analyst at AMarkets.
The government loan program is based on intergovernmental agreements with other nations, the Finance Ministry’s press service told Izvestia, adding that details about such loans are not disclosed. However, according to World Bank data, the total debt of foreign states to Russia at the end of 2022 amounted to $28.9 bln (around 2.3 trillion rubles at the Central Bank’s exchange rate as of October 21).
Meanwhile, revenues from repayments by borrowing countries will be considerably lower than the amount of new lending. In 2026, repayments are projected at $3.2 bln (294 bln rubles), in 2027 at $2 bln (192.5 bln rubles), and in 2028 at $3 bln (221 bln rubles). Thus, over three years, Russia expects to recover just over $8 bln, or 708 bln rubles.
"The repayment forecast is lower than the volume of loans issued most likely because Russia realizes that some countries will be unable to repay on time or will do so with significant postponements," Natalia Milchakova, Leading Analyst at Freedom Finance Global, told Izvestia.
According to the expert, such generosity may not be entirely altruistic: many countries in Asia, Africa, and Latin America act as intermediaries for cross-border transactions involving Russian exporters and importers.
Kommersant: India may spend over $1 bln on S-400 missile purchases from Russia
India is in talks with Russia over the purchase of additional missiles for the S-400 surface-to-air missile system and the possibility of domestic production, according to local media reports. The contract is estimated to be worth around $1.2 bln. Analysts believe India’s continued engagement with Russia, despite Western pressure, highlights Moscow’s enduring strategic importance in New Delhi’s defense modernization efforts, Kommersant writes.
According to the ANI news agency, the need for additional procurement stems from the successful use of the S-400 during Operation Sindoor. Previously, Indian sources claimed that the S-400 had destroyed several Pakistani aircraft and a reconnaissance drone at distances exceeding 300 km.
Under the 2018 contract worth a total of $5.4 bln, India purchased five S-400 regiments from Russia (each comprising at least two battalions), three of which have already participated in the recent conflict with Pakistan. New Delhi expects to receive the remaining two regiments in 2026 and is considering further expansion of its fleet, including through acquisition of the advanced S-500 Prometheus systems. As Hindustan Times reported on October 6, representatives of India’s Ministry of Defense have already held talks with their Russian counterparts regarding the potential joint production or direct acquisition of five additional S-400 battalions.
According to the publication, the two sides have agreed on the pricing and allocation of production capacities: three systems would be procured directly, while two would be produced by Indian companies under license with technology transfer.
The Indian side is also discussing with Moscow the modernization of the supersonic missile line produced by the joint venture BrahMos. By 2026-2027, a new version with an extended range of up to 800 km is expected to enter service. The Indian Air Force is likewise interested in purchasing long-range air-to-air missiles from Russia, including the R-37M, for its Su-30MKI fighter jets.
Despite pressure from the United States and the risk of secondary sanctions, Moscow continues to play a pivotal role in India’s rearmament programs, ANI noted.
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