Russia is once again warning the West, as plans to “seize” Moscow’s assets in order to aid Ukraine are underway. Should the West attempt to steal Russian assets, the country will respond with a “symmetrical response.”
So far, Russia has not been following through on its threats to the West, which has crossed almost every single line that has been laid down. However, their new vow is to respond in kind if the West goes through with threats to confiscate Russian assets blocked abroad.
Finance Minister Anton Siluanov warned of the actions in an interview with RIA Novosti and reported on by RT, published on Monday. He noted that Western states themselves still have assets in Russia that could be jeopardized if the frozen funds are tapped.
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“This is not a question for us, we are following the decisions of Western countries,” Siluanov stated. “We have frozen no less [of Western funds]. Any actions with our assets will receive a symmetrical response.” So far, Western countries have blocked an estimated $300 billion in assets belonging to the Russian central bank since the start of the Ukraine conflict in February 2022.
The UK and US have recently demanded an outright seizure of those funds in order to aid the government in Kiev, whereas the EU has been more cautious, opting instead for a plan to seize the interest earned from the assets held at the clearinghouse Euroclear. Many European countries have warned that an outright confiscation of the funds would reflect badly on the Western financial system and erode trust in the euro. –RT
Will this finally be the straw that breaks the Russian camel’s proverbial back?
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Siluanov also warned that other global players (ruling classes) are closely following the story involving the theft of Russian assets and are drawing their own conclusions. “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,” he stated.
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