Ministry of Finance: Russian assets frozen by the West may be lost forever
The $300 billion in Russian assets frozen by the West could likely be lost to Russia forever. This possibility was admitted by the director of the department for control of external restrictions of the Russian Ministry of Finance, Dmitry Timofeev, reports RIA News.
“It is unlikely that anyone expects the West to return the money to Russia in the foreseeable future. In general, we can honestly say that this money is lost for us for a long time, if not forever,” the official said.
Earlier, Russian President Vladimir Putin said that attempts to seize Russian assets would be theft and would not go unpunished. He pointed out that the Western countries that had frozen Russian reserves were now “thinking about how to establish at least some legal basis to finally appropriate them.”
On June 25, the White House admitted that there is no compromise solution among the participating countries regarding the seizure of Russia’s assets blocked in Western countries. Michael Carpenter, Director of European Affairs at the US Security Council, said that the authorities of the G7 countries currently have no understanding of what to do with the “principal amount” of Russia’s frozen reserves.
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