Putin threatens ‘serious consequences’ over use of frozen assets for Ukraine
Vladimir Putin has warned of “serious consequences” if Europe uses frozen Russian assets to finance Ukraine. During his annual televised press conference, Putin called any plans to use the assets for Ukraine “not theft, but robbery”.
“Theft means secretly stealing property. But in this case, they are trying to do it openly. That is robbery,” he said in Friday’s address.
On Thursday, EU leaders agreed to grant Ukraine a loan of 90 billion euros to finance the war against Russia over the next two years. The agreement is an alternative to using 200 billion euros of frozen Russian assets – mainly held at Euroclear in Brussels – to fund Ukraine’s war effort. The EU reserves the right to use the assets to repay the loan.
Belgian prime minister Bart De Wever was resolutely against a loan based on the assets held in Belgium. If they are confiscated, Russia will defend itself in court, Putin said: “We will try to find a jurisdiction that is independent of political decisions.”
Reputational damage
He warned that seizing Russian assets would damage Europe’s reputation and undermine trust in the eurozone. The Russian central bank has already announced a lawsuit in Moscow to recover the frozen funds. A hearing is scheduled for 16 January.
Putin also told his audience that “Russian troops are advancing in all directions … the enemy is retreating in all sectors” and that the army would make further gains before the end of the year. The remains of about 1,000 Ukrainian soldiers have been handed over to Ukraine by Russia, according to reports from both sides.
Earlier this week, he warned that Moscow would seek to extend its gains in Ukraine if Kyiv and its Western allies rejected his demands.
The annual press conference is a rare direct engagement between Putin and the Russian public. It combines a large news conference with a chance for citizens to put questions to the president.
A live broadcast of the annual year-end televised live phone-in and news conference by Russian president Vladimir Putin © PHOTO ALEXANDER SHCHERBAK / TASS VIA ZUMA PRESS
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