Russia’s friends want 200 billion euros of Russian Federation’s frozen assets left alone – Politico

China, Indonesia and Saudi Arabia fear that the seizure of Russian assets will set a precedent and that they too will be next in line after Russia. The publication notes that these three countries may act on Putin’s behalf and may not want the EU to help Ukraine on the battlefield.

Countries sympathetic to Russia are calling on the EU to abandon the complete seizure of the Russian Federation’s frozen assets. This position was specifically expressed by representatives of China, Saudi Arabia and Indonesia. They fear that seizing Russian assets could set a precedent. Politico writes about it.

The media called these three states “friends of Russia”. They insist that EU countries continue to resist pressure from the US and UK to seize more than 200 billion euros of Russian state assets that have been frozen since Russia’s invasion of Ukraine in February 2022.

“These countries (China, Saudi Arabia, Indonesia – ed.) are quite skeptical of this idea,” one of the officials shared anonymously with reporters.

The concern is that “this will set a precedent”, meaning these countries will fear they could be next.

The publication notes that despite their concerns, it cannot ignore the fact that they may be acting on Putin’s behalf and may not want the EU to help Ukraine on the battlefield.

“I accept that the Russians might ask their friends to make this fuss,” said a senior diplomat from a non-EU country.

There are also suspicions that Moscow will push its allies to attack Western assets in their countries.

The issue of Russia’s assets will be discussed at the meeting of G7 finance ministers in May. Financial risks are discussed in the EU. The German government and the European Central Bank believe the seizure could undermine investors’ confidence in the EU financial system.

At the same time, European officials believe that if the confiscation occurs, the Russian Federation may challenge it in the courts.

Let’s remember, on March 15, German Chancellor Olaf Scholz said that the excess profits from the Russian Federation’s frozen assets in Europe would be used to buy bullets for Ukraine.

On March 12, the Financial Times wrote that Ukraine could receive the first billions from frozen Russian assets in the summer.

Source: Focus

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