{"id":5125,"date":"2024-03-22T14:02:42","date_gmt":"2024-03-22T12:02:42","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=5125"},"modified":"2024-03-22T14:02:42","modified_gmt":"2024-03-22T12:02:42","slug":"russia-warns-western-banks-of-catastrophic-consequences-over-asset-confiscation","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=5125","title":{"rendered":"Russia warns Western banks of catastrophic consequences over asset confiscation"},"content":{"rendered":"
The Kremlin on Friday said Western banks\u2019 legal departments understand the \u201ccatastrophic consequences\u201d that would follow should the EU proceed with plans to confiscate Russian assets.<\/p>\n
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Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation.European Union leaders on Thursday agreed to move ahead with work on a plan to use up to 3 billion euros ($3.24 billion) a year to supply arms to Ukraine as they try to bolster Kyiv\u2019s fight against Russia, which would still own the underlying frozen assets. EU leaders said the proceeds could be used within a few months.\u201cWe have heard statements from Brussels that the proceeds of our assets don\u2019t belong to anyone,\u201d Kremlin spokesman Dmitry Peskov told reporters. \u201cThis is not so. They belong to the holders of the assets, the owners of the assets.\u201dResponding to Reuters\u2019 report that some banks fear that they might later be held liable by Russia if they are involved in any transfer of money to Ukraine, Peskov issued a thinly veiled warning.\u201cThe legal department of any bank understands the catastrophic consequences of such actions to expropriate assets, both for the bank, for the country as a whole and for the European economy,\u201d Peskov said.\u201cIf such decisions were realised, this would have very serious consequences for those who took and implemented them.\u201d<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Kremlin warned of “catastrophic consequences” if the EU proceeds with plans to confiscate Russian assets. Western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets due to fears of costly litigation. EU leaders agreed to work on a plan to use up to 3 billion euros a year to supply arms to Ukraine, funded by the interest from these frozen assets. Kremlin spokesman Dmitry Peskov stated that the assets belong to their owners and warned of serious consequences for banks and the European economy if such expropriations occur.<\/p>\n","protected":false},"author":3,"featured_media":5126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1902,611,2510,3,26,379,2956,3005,2404,988,2955,250,1991,899,296,2628,19,3028,17,3027],"class_list":["post-5125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bank","tag-banks","tag-brussels","tag-cyprus","tag-economy","tag-eu","tag-eu-leaders","tag-eu-proposals","tag-european-union","tag-fight","tag-frozen-russian-assets","tag-google","tag-industry","tag-interest","tag-kyiv","tag-money","tag-russia","tag-russian-assets","tag-ukraine","tag-western-banks"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nRussia warns Western banks of catastrophic consequences over asset confiscation<\/title>\n<meta name=\"description\" content=\"Assets. western banks, 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