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
Death toll from latest Israeli strikes on Gaza rises to 30
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City
Al Mayadeen's correspondent: An Israeli airstrike targets the vicinity of Al-Shifa Medical Complex, west of Gaza City
Al-Qassam: We will postpone the handover of the body of the Israeli captive we found, which was scheduled for today, due to the occupation's violations
Al Mayadeen's correspondent in Gaza: Israeli occupation aircraft launch airstrikes on the city of Rafah in the southern Gaza Strip
Netanyahu's office: At the end of the security consultations, the prime minister instructed the military to launch massive military strikes on the Gaza Strip immediately
President Aoun: We urge the activation of the monitoring committee, the cessation of hostilities, ongoing Israeli violations, attacks
Lebanese President Joseph Aoun to US Envoy Morgan Ortagus: Southerners must be enabled to return to their homes and rebuild

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

Venezuela slams Trinidad and Tobago, declares PM persona non grata

ASEAN demands end to US blockade on Cuba at UNGA

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

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Members of the al-Qassam Brigades, the military wing of Hamas, and Egyptian workers search for the bodies of hostages in a tunnel discovered during searches in Hamad City, Khan Younis, in the southern Gaza Strip, on Tuesday, Oct. 28, 2025 (AP)
Politics

'Israel' obstructing Gaza body recovery, creating false claims: Hamas

Lebanese Prime Minister Nawwaf Salam talks to US Deputy Special Envoy to the Middle East Morgan Ortagus at the Grand Serail in Beirut, Lebanon, October 28, 2025 (NNA)
Politics

Salam conveys to Ortagus goals behind any possible negotiations

Writers boycott NYT, demand justice as Gaza media ban faces court
Politics

300+ writers boycott NYT Opinion, cite persistent anti-Palestine bias

Settlers attack West Bank olive harvesters, Injure 3 Palestinians
Politics

Settlers attack West Bank olive harvesters, injure 3 Palestinians

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