“The under-sanctioned chairman of the Russian bank VTB Andriy Kostin said that the Federation will start legal proceedings against the EU in case of using the frozen assets of the Russian Federation.”, — write: www.pravda.com.ua
Kremlin, illustrative photo: Getty Images Source: Kostin, quoted by Reuters
Details: According to Kostin, Moscow will retaliate if the European Union uses frozen Russian assets to provide a loan to Ukraine, adding that Russia could begin a half-century of litigation.
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At a summit in October, EU leaders tried to agree on a plan to use 140 billion euros ($162 billion) of frozen Russian sovereign assets in Europe as a loan to Kyiv, but failed to secure Belgian support.
According to the EU plan, the frozen assets of the Russian Central Bank in Europe can be loaned to Ukraine so that Kyiv can use them for defense and state budget needs.
“As for the confiscation of our money, we can eventually do without it. The only problem is that this money can be used for war, not for peace,” Kostin said ahead of a visit to Moscow by US special envoy Steve Witkoff.
Direct speech Kostina: “It is convenient to wage a war not only with other people’s hands, but also with other people’s money – this is the height of sophistication for Europe. But this cannot be an excuse.”
Details: Kostin said Russia would respond to the confiscation by confiscating the assets of European investors in Russia, and added that even after peace is achieved in Ukraine, there could be “50 years of litigation.”
He added that Russia should be more active in legal actions against the EU, Belgium and Euroclear regarding assets in Russian and international courts, and also suggested filing a lawsuit in the UN court.
Kostin, one of Russia’s most powerful bankers, was more open to the idea of dividing Russia’s sovereign assets as part of a broader so-called “peace deal.”
An earlier version of the US-backed “peace plan” published in the media proposed that $100 billion of the frozen funds be invested in the reconstruction of Ukraine, with part of the remaining funds in a joint US-Russian fund.
“If Russia agrees and is ready, then why not. This is a matter of agreements,” Kostin said. He noted that Witkoff’s visit to Moscow was important, and that Russia was ready to make concessions in negotiations, but reaching an agreement would take time.
Direct speech Kostina: “Sooner or later we will reach an agreement. Life shows that compromises must be sought. Russia is also ready for them, because there is no one-way movement in negotiations.”
What preceded: The White House said that they are “very optimistic” about the process of negotiations to establish peace in Ukraine.
According to CNN, US President Donald Trump’s special envoy Steve Witkoff went to Moscow for a meeting with Putin.
Prehistory:
- On Sunday, negotiations between the Ukrainian and American delegations regarding the settlement of the Russian-Ukrainian war took place in the United States.
- According to the publication Axios, the US at the meeting with the Ukrainian delegation in Miami on Sunday sought to approve two key issues that remain unresolved – regarding territories and security guarantees.
- According to The Wall Street Journal, Ukrainian and American delegations discussed in Florida, in particular, the timing of elections in Ukraine.