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19 June 2024, 18:19

Russian diplomat: Response to asset confiscation may involve Western property in Russia’s jurisdiction

Maria Zakharova/Russian MFA
Maria Zakharova/Russian MFA
MOSCOW, 19 June (BelTA) - Moscow's response to the Western countries confiscating Russian assets could extend to Western property and funds in Russian jurisdiction, spokeswoman for the Russian Foreign Ministry Maria Zakharova said at a news briefing in Moscow on 19 June, TASS reports.

"Our country holds significant amounts of Western funds and property under Russian jurisdiction. All this may fall under Russian response policy and retaliatory actions," she said.

"Of course, we will not disclose the nature of these retaliatory actions. The arsenal of political and economic countermeasures is wide," the diplomat noted.

Citing the Elysee Palace, AFP reported earlier that leaders of the G7 agreed to provide Ukraine with $50 billion using the income from Russia’s frozen assets until the end of 2024. The EU, the United States, Canada and Japan have frozen Russian assets worth about $300 billion since the start of the conflict in Ukraine. Most of the funds are being held in Europe, at Euroclear, a Belgium-based central securities depository. Euroclear holds around $210 billion; the United States - about $5-6 billion.
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