Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted

Moscow reminds West that it also has assets in Russia

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Feb 2024 17:06
  • 2 Shares
4 Min Read

Russia's Finance Minister says Moscow's response to the West seizing its assets will not be nice if the West confiscates Russian assets blocked abroad.

  • x
  • Russia's Finance Minister Anton Siluanov, left, attends a session at the State Duma, the Lower House of the Russian Parliament in Moscow, Russia, on Friday, Nov. 17, 2023. (AP)
    Russia's Finance Minister Anton Siluanov, left, attends a session at the State Duma, the Lower House of the Russian Parliament in Moscow, Russia, on Friday, November 17, 2023. (AP)

Russian Finance Minister Anton Siluanov stated today in an interview with RIA Novosti that if the West applies its threats to Russia and confiscates Russian assets blocked abroad, Russia's response will not be nice. He stressed that the West also has assets in Russia that could be endangered if the latter's funds are used.

“This is not a question for us, we are following the decisions of Western countries,” Siluanov emphasized then added "We have frozen no less [of Western funds]. Any actions with our assets will receive a symmetrical response.”

Since the Ukraine-Russia conflict began in February 2022, Western countries have frozen an estimated $300 billion in assets belonging to the Russian central bank, which the UK and US have recently threatened to take and use for aiding Ukraine.

On the other hand, in the same context of seizing the funds, the EU has been aiming to use the interest earned from these Russian assets at the clearinghouse Euroclear.

Western assets in Russia may equal Russia's in West

Many European countries have warned that such confiscation of the funds would affect the Western financial system negatively and destroy trust in the euro.

Siluanov warned that global players are monitoring the Russian assets and analyzing possible outcomes as he further elaborated “The Chinese are reducing their exposure to American securities – this is a consequence of what is happening [with Russian assets]. The reliability of the dollar and the euro has been compromised."

Related News

Senate blames Secret Service failures for Trump assassination attempt

South Korea warns US chip tariffs threaten economy, global supply

Siluanov did not dive into details regarding the amount of Western assets currently held in Russia, however, calculations by RIA Novosti expect these assets to be roughly equal to the size of the Russian funds frozen abroad.

At the end of 2022, the total foreign direct investments in the Russian economy by the EU, G7, Australia, and Switzerland was $288 billion, RIA Novosti reported last month.

Moscow has repeatedly criticized the legitimacy of the asset freezes, stressing that this action constitutes “thievery” and warned of retaliation in case the West confiscates the funds.

IMF warns of risks from Western seizure of Russian assets

The International Monetary Fund (IMF) cautioned on Thursday that Western plans to seize frozen Russian assets could pose a threat to the global monetary system and entail unforeseen risks.

"From our perspective, it is important that any actions have sufficient legal underpinnings to avoid potential risks, and these include risks of litigation, risks of countermeasures, and risks to the international monetary system," IMF spokesperson Julie Kozack told reporters.

This development comes a day after a team of legal experts deemed that the confiscation of Russian assets is permissible under international law, citing Russia's ongoing special military operation in Ukraine.

While there was a belief that these funds should remain inaccessible to Russia unless it assists in Ukraine's reconstruction, there was disagreement over the legality of outright asset seizure.

They therefore sought guidance from a team of ten international law experts and practitioners, who unanimously affirmed in a joint letter that the seizure of assets is entirely legal.

"We have concluded that it would be lawful, under international law, for States which have frozen Russian State assets to take additional countermeasures against Russia, given its ongoing breach of the most fundamental rules of international law, in the form of transfers of Russian State assets as compensation for the damage that has resulted directly from Russia’s unlawful conduct," the experts in the letter, which was obtained by Bloomberg. 

  • United States
  • G7
  • frozen assets
  • Russia
  • Russian Central Bank
  • Australia
  • European Union

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS