Dmitry Medvedev, Deputy Chairman of the Russian Security Council, stated today, "Britain has transferred about $1.3 billion to Ukraine from the proceeds of frozen Russian assets. It is obvious that this money cannot be recovered through legal action, but we still have ways to get it back."
Medvedev criticized Britain's actions as "theft", asserting that Russia has the legal right to demand compensation.
"Any illegal seizure of frozen Russian assets and the profits from them must be compensated by new territories, as well as Ukrainian assets. Another option is to seize valuable assets of the British royal family. There are still many such things everywhere, including in Russia," he said.
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The Deputy Chairman of the Russian Security Council attends a meeting in Dubna in 6/2024. Photo: Reuters |
The Deputy Chairman of the Russian Security Council attends a meeting in Dubna in 6/2024. Photo: Reuters
British and Ukrainian officials have not yet commented on this statement.
Medvedev's declaration followed UK Defence Secretary John Healey's announcement that approximately $1.3 billion in military aid to Ukraine had been financed using proceeds from frozen Russian assets.
After the Ukraine conflict erupted in late 2/2022, the US and its allies imposed a ban on transactions with the Russian Ministry of Finance and central bank, freezing $300-350 billion of Moscow's assets abroad. Most of these are US and European government bonds held in a European securities depository.
Russia cannot access the frozen assets, but they still belong to Moscow and continue to generate interest. However, this interest is not transferred to Russia. The European Union (EU) is using this interest, about $2.6-3.1 billion annually, to help equip Ukraine with weapons and for post-war reconstruction.
Some European countries have proposed confiscating the principal amount of frozen Russian assets to offset military aid to Ukraine. The Czech Republic, Estonia, and Poland strongly support confiscating Russian assets, rather than just using the interest to secure loans for Ukraine. Britain also supports this measure, while France is much more cautious.
The Kremlin has repeatedly condemned the freezing of assets and their use to secure loans for Ukraine as "theft". Kremlin spokesman Dmitry Peskov also declared that Moscow will take appropriate legal action against individuals involved in the decision to seize Russian assets in the West.
Huyen Le (Theo Reuters, TASS)
