Immediate Russian Response to European Financial Sanctions

In reaction to Brussels’ efforts to freeze Russian assets and use them to support Ukraine, the Russian Foreign Ministry spokesperson stated that Moscow would respond swiftly to this measure.

According to Rokna, citing TASS, Maria Zakharova commented on the freezing of Russian assets by Brussels, saying that Moscow’s retaliatory measures in response to this EU action will be implemented shortly.

She criticized this approach, noting that the fact that the citizens of EU member states will bear the cost of political ambitions is being concealed by Brussels.

The Russian Foreign Ministry spokesperson asserted that the European Union will no longer be able to compensate for the damage such actions inflict on its financial and economic system as well as its credibility in the world as a trade and investment partner.

Zakharova emphasized that such violations in international relations do not remain without consequences.

On Friday, the European Union agreed to indefinitely freeze the assets of the Russian central bank in Europe, thereby removing a major obstacle to the use of Russian funds to support Ukraine.

Under this agreement, European governments voted for an indefinite freeze rather than having to vote every six months on the extension of the blockade of €246 billion of Russian assets in Europe.

European Council President António Costa wrote on X (formerly Twitter) that European leaders committed to keeping the frozen Russian assets blocked until the end of Russia’s aggression in Ukraine and for the payment of reparations.

This decision reduces the likelihood of opposition from Hungary and Slovakia regarding the use of Russian assets, as both countries maintain good relations with Russia.

The purpose of the indefinite suspension of Russian assets is to convince Belgium to use these funds to provide a €165 billion loan to Ukraine, enabling the country to finance its military and civilian budgets in 2026 and 2027, as a significant portion of the frozen Russian money is held in Belgium.

Meanwhile, Zakharova responded to Zelensky’s claim that he is ready to hold elections if American and European partners provide security guarantees, stating that Zelensky has begun extorting his Western backers, demanding that they ensure the security of Ukrainian elections, while in reality, he means that his re-election must be guaranteed.

She emphasized that no other interpretation can be drawn from these remarks. Zelensky is explicitly telling his Western partners: you are obliged to elect me, and that is all.

Last week, Zelensky announced that if election security is guaranteed, elections would be held within two to three months.

He added that he would request parliament to prepare the necessary laws for holding elections during martial law.

Ukraine’s presidential election was originally scheduled for March 2024 (Farvardin 1403), but due to the ongoing war with Russia, martial law remains in effect, and the elections have been postponed.