Russia warns Europe: if you take our assets, we have a response that will hurt

An ally of President Vladimir Putin warned Europe on Tuesday that Russia has already drafted legislation to retaliate if nearly $300 billion of Russian assets were seized by the West and used to help Ukraine.

After President Vladimir Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia’s central bank and finance ministry, blocking around $300 billion of sovereign Russian assets in the West.

Top officials in the United States want to seize the assets to help support Ukraine, though some bankers and European officials are worried that simply taking the assets would create a dangerous precedent.

The U.S. House of Representatives passed legislation on Saturday including a bill with a provision that would allow the confiscation of Russian sovereign assets, though the lion’s share of the assets are in Europe.

Monument,

The Kremlin has repeatedly said that any seizure of its assets would go against all the principles of free markets which the West proclaims and that it would undermine confidence in the U.S. dollar and euro while deterring global investment and undermining confidence in Western central banks.

Like establishing an economic collaborative consisting of Brazil, Russia, India, China, and South Africa that are all in talks to increase trade with each other, and ditch the dollar as their trade currency?
Like attempting to undermine the petrodollar as the world reserve currency for purchasing oil?

I don’t know what counters the west has in their bag, but it’s a little silly to make threats as if BRICS hasn’t been completely transparent about their plans the whole time.
It’s kind of an empty threat if you’ve been openly working on it for decades while the (more powerful) nations you plan to ratfuck have had time to prepare. I also don’t know how China would manage with a loss or rapid decrease in trade. They seem a bit too pragmatic than to follow Russia into a hole.

Some Russian officials have suggested that if Russian assets are confiscated then foreign investors’ assets stuck in special so-called type “C” accounts in Russia could face the same fate.

I’m sure they’d have to target all western accounts at once. Targeting one type will lead to the rest quickly hemorrhaging their money out of country.
And I don’t think they’d wind up attracting new western investment for decades if they pulled a move like that.

Jaysyn,
Jaysyn avatar

We don't fucking care.

FAFO.

Reddfugee42,

I love how a year into this shit they’re trying to convince everyone they haven’t even really been trying but now they’re going to actually try. I wonder what the parents of all their dead soldiers think when they read stuff like that.

🇺🇦

rusticus,

The US will never seize Russian assets because they are all on loan to the Republican Party.

shortwavesurfer,

I’m not sure exactly what Russia would do to bring hurt, but what I am sure of is that people will think twice about having dollar-denominated assets or euro-denominated assets because they could be frozen and confiscated at any time for any reason, so they will be more likely to hold gold and other real money. This would be a very, very bad move in the long term. Maybe not short term.

Siegfried,

Oh no, if we take russian assets they may reach Paris in 3576 AD

ILikeBoobies,

Russia’s final warning

Railcar8095,

2.0

jol,

Final_final_final.docx

dharwin,

Ha ha ha, he ain't got shit. Russia is impotent.

CanadaPlus,

Matviyenko did not give specifics on what the response would be to the seizing of Russian assets which is still under discussion in the West.

You wouldn’t know it, it goes to another school.

_haha_oh_wow_,
@_haha_oh_wow_@sh.itjust.works avatar

Putin hurt itself in confusion

Nobody,

Have all the oligarchs dump their western real estate and crash the housing market?

Please…

Beryl, (edited )

What are they gonna do ? Finance far-right parties in all of Europe to sow discord ? Oh wait.

Noodle07,

Yeah the money was due to be seized a long time ago with all their interférences

fluxion,

I think “start a war and lose all your fucking money to pay for it” is a good precedent and everyone should immediately employ it.

dogslayeggs,

I agree completely and would like that to apply to all countries, even mine. Let there be real consequences for the ultra-rich for a country starting wars, and maybe you’ll see the politics change. Maybe not, but I’d like to hope so.

avater,
@avater@lemmy.world avatar

Russia, go fuck yourself!

fuckingkangaroos,

Not all of Russia, just the Kremlin and oligarchs. Many Russians are decent people, often deceived by their sociopath rulers and constant propaganda.

avater,
@avater@lemmy.world avatar

Not all of Russia, just the Kremlin and oligarchs

Really hate to burst your bubble here, but the Russians who are against their leaders are in the minority and a lot of Russians were and still are fine with the way their country has been reigned in the last decades and today. The myth that this is just Putin’s war is just that, a myth…

QuarterSwede,
@QuarterSwede@lemmy.world avatar

Let’s stretch them thin!

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