Russia launched a tough new attack on the European Union on Wednesday over its freeze on Russian assets, saying a proposal made yesterday by EU foreign policy minister Josep Borrell was “banditry and theft”, Reuters reported.

Maria Zakharova and Russian Foreign Minister Sergey Lavrov at a reception organized by the Ministry of Foreign Affairs of the Russian FederationPhoto: Kommersant photo agency / ddp USA / Profimedia

​

Borrell announced on Tuesday that he would propose that the EU use 90% of the proceeds from Russian assets frozen in Europe to buy arms for Ukraine through the European Peace Fund.

The head of European diplomacy told the press in Brussels that he will offer to transfer the remaining 10% to the EU budget to increase the potential of the Ukrainian defense industry.

Last week, a senior European official said that Russian assets blocked by the European Union after Russia’s invasion of Ukraine could generate a total profit of 15 billion to 20 billion euros by 2027, depending on changes in global interest rates.

The EU has frozen Russian assets worth about 300 billion euros.

On Wednesday, the Kremlin said Borrell’s proposed plan would destroy Europe’s reputation as a guarantor of property rights and lead to decades of litigation.

Russia talks about “inevitable losses” if profits from Russian assets are seized

“Europeans know very well the damage such decisions can cause to their economy, image and reputation as guarantors of the inviolability of property,” Kremlin spokesman Dmytro Peskov said during a daily press conference.

“The damage will be inevitable. The people who will be involved in making such decisions, the states that will decide it, of course, will be the subject of disputes for many decades.”

About 70 percent of all Russian assets immobilized in the West are held by the Belgian central securities depository Euroclear, which holds the equivalent of 190 billion euros in various Russian central bank securities and cash.

When asked about Borrell’s plan, a spokeswoman for the Russian Foreign Ministry said it was “just banditry and theft.”

Zakharova added that Russia will respond with its own measures against Western assets if its assets frozen abroad are seized.

The United States has been campaigning at the level of the G7 to seize Russian assets blocked in the West, not just their profits, but the proposal has faced opposition from several major European powers, which fear such a measure would be overturned by their own laws. systems.

Follow the latest events of the 756th day of the war in Ukraine LIVETEXT on HOTNEWS.RO.