British newspaper makes surprising comments about the West's seizure of Russian assets, Moscow says the EU will "pay a higher price"

The Financial Times (UK) quoted Norwegian observer Martin Sandbu as saying that the confiscation of Russian assets by Western countries could lead to serious economic consequences.

Western seizure of Russian assets could have serious consequences. (Source: Getty Images)

The Financial Times article stated: “The seizure of Russian assets would force other non-Western countries to withdraw their reserves from the West if… similar sanctions were imposed on them.”

This could destabilize the global financial system and there are also legal hurdles, according to Mr. Sandbu.

The British newspaper added: “The European Central Bank has issued a strong warning to the continent’s politicians about taxing EU businesses that earn excess profits from frozen Russian assets.”

On Russia's side, on his personal Telegram page on October 29, Chairman of the State Duma (Russian lower house) Vyacheslav Volodin warned that Moscow would confiscate EU assets if the bloc used the country's frozen assets to rebuild Ukraine.

According to Reuters news agency, Mr. Volodin's statement was made in the context of European Commission (EC) President Ursula von der Leyen announcing that the 27-member bloc is considering a proposal to use part of Russian assets frozen in Europe to help Ukraine rebuild after the conflict.

Ms. von der Leyen said that the value of Russian assets frozen in Europe is up to 211 billion euros (more than 223 billion USD).

"Moscow will take measures to make the EU pay more if the bloc uses Russian assets to rebuild Ukraine," Mr. Volodin warned.

Since the Russia-Ukraine conflict broke out, the US and its Western allies have imposed several packages of sanctions on Moscow, including asset freezes.

Kiev's allies have repeatedly wanted to use frozen Russian assets to help the Eastern European country rebuild, but fear legal barriers and cumbersome procedures will get in the way.

Source: https://baoquocte.vn/bao-anh-nhan-dinh-bat-ngo-ve-viec-phuong-tay-tich-thu-tai-san-nga-moscow-noi-eu-se-phai-tra-gia-dat-hon-248925.html