Russia vows to respond immediately if the West takes its assets

TASS news agency reported on June 7 that Russian Foreign Ministry spokeswoman Maria Zakharova said at a press conference on the sidelines of the St. Petersburg International Economic Forum (SPIEF) that Moscow will not hesitate to retaliate against the confiscation of its assets in the West with a series of political and economic countermeasures.

“They are planning to mortgage Russian reserves without prior authorization, with the future revenues from them not only being immediately pocketed by the West but also being spent on some other military projects aimed at countering Russia,” she said. “We will of course always respond appropriately to such moves. We always have a range of political and economic countermeasures against those who try to seize Russian reserves.”

“One should think long and hard before deciding to proceed with this because countermeasures will follow soon,” the diplomat added.

In May, Ms. Zakharova noted that Russian President Vladimir Putin signed a decree on compensation for damage caused to Russia and its Central Bank due to the unfriendly actions of the United States.

“A similar mechanism could also be applied to other countries, including in Europe. Their assets and funds in Russia are more than in the US. Moreover, the US and the EU have proven that they are no longer considered reliable jurisdictions for foreign investors, as their investments can be confiscated or stolen at any time,” she said, adding that “such actions have no legal basis behind them.”

The St. Petersburg International Economic Forum (SPIEF) is being held on June 5-8. This year's theme is “The Formation of New Growth Sectors as the Foundation of a Multipolar World”. Scheduled events include meetings for small and medium-sized businesses, creative industries, SPIEF Youth Days, as well as the Drug Security Forum, SPIEF Academic Forum and SPIEF Junior.