Russia has strongly criticized a proposal by the European Union, articulated by foreign policy chief Josep Borrell, to utilize 90% of revenues from Russian assets frozen in Europe, labeling it as theft and predicting it would lead to decades of lawsuits. The Kremlin threatened to retaliate if these profits were used to arm Ukraine, emphasizing it would use every legal mechanism at its disposal to protect its interests. Concurrently, Western banks have expressed significant concerns over the EU's plan, warning of the legal and financial risks associated with redistributing billions of euros in interest earned on these frozen assets. Banks are reportedly lobbying against the proposal, fearing it could lead to costly litigation and have catastrophic consequences. The Kremlin has warned of 'serious consequences' and 'catastrophic consequences' if the plan proceeds, indicating a high level of tension between Russia, the EU, and the involved financial institutions.
Russia warns Western banks of catastrophic consequences over asset confiscation - Reuters https://t.co/Vz0Sl94PcW
Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation https://t.co/0bZDjGrMEw
Some Western banks warn of risks in EU plan to grab frozen Russian assets, sources say https://t.co/gC4lsVfQuX
🇷🇺🇪🇺RUSSIA TO EU: DO NOT TOUCH OUR ASSETS Moscow threatens "catastrophic consequences" if the EU proceeds with plans to confiscate Russian assets to supply aid to Ukraine. Kremlin: "We have heard from Brussels that the proceeds of our assets don't belong to anyone. This is not… https://t.co/afITfcSW1z
⚠️ RUSSIA WARNS WESTERN BANKS OF CATASTROPHIC CONSEQUENCES OVER ASSET CONFISCATION Full Story → https://t.co/lrTzUIjtCW The Kremlin on Friday said Western banks' legal departments understand the "catastrophic consequences" that would follow should the EU proceed with plans to… https://t.co/5GWFmeWOxs
#BREAKING Kremlin says EU risks 'serious consequences' over frozen assets plan https://t.co/qB5NKkunlV
🙄 Western banks fear risks related to confiscation of profits from Russian assets https://t.co/76SZ2qHneL
European banks are wary of using frozen Russian assets to help Ukraine - Reuters The EU wants to use billions of euro interest received from frozen Russian assets to supply weapons to Ukraine. But Western banks have begun to “lobby” against the proposal, Reuters reports. Banks… https://t.co/saZQ0TWfhf
Some Western banks have reportedly begun lobbying against an EU proposal to redistribute billions of euros in interest earned on frozen Russian assets. More: https://t.co/PwGt9Reqll https://t.co/pAiUf40Qqu
Western banks warn of risks in EU plan to grab Russian assets, sources say https://t.co/cBFzELm47f https://t.co/1S6FtZ24ju
⚠️ WESTERN BANKS WARN OF RISKS IN EU PLAN TO GRAB RUSSIAN ASSETS, SOURCES SAY Full Story → https://t.co/CRj3BW8cyf Some western banks have begun lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry…
⚠️ KREMLIN WILL RETALIATE IF THE EU USES PROFITS FROM RUSSIAN ASSETS TO ARM UKRAINE Full Story → https://t.co/IbhUWIKU4V Russia will take retaliatory measures in accordance with its own interests and use every legal mechanism at its disposal if the European Union uses profits… https://t.co/JkrQcKaQE5
⚠️ RUSSIA SAYS EU FROZEN ASSETS PLAN IS THEFT, WILL LEAD TO DECADES OF LAWSUITS Full Story → https://t.co/265s6gBPiJ Russia on Wednesday said a proposal by European Union foreign policy chief Josep Borrell to take 90% of revenues from Russian assets frozen in Europe and…