Russian Foreign Ministry threatened to sever relations with the US in case of confiscation of frozen assets

Russia is ready to break diplomatic relations with the United States if Washington decides to confiscate Russian assets or bet on military escalation in Ukraine, Deputy Foreign Minister Sergei Ryabkov said.

“We are ready for any scenarios, and the United States should not have the illusion, if they have one, that Russia, as they call it, is holding on with both hands to diplomatic relations with this state”, Ryabkov emphasized in an interview with Interfax.

According to him, diplomatic relations are “not some totem to be worshipped, it is not a sacred cow that everyone cherishes.” However, Moscow is not going to “take the initiative to break them” because the United States and Russia play a “central role” in maintaining international security and strategic stability, Ryabkov said.

The statement by the Russian deputy foreign minister came amid reports that the administration of US President Joe Biden, facing problems with the issue of allocating aid to Kyiv in Congress, began urgent talks with allies on the use of frozen Russian assets for military aid to Ukraine.

Prior to that, US representatives suggested that the G7 partners recognize themselves as “victims” of Russian aggression against Ukraine and on this basis confiscate $280 billion of Russian Central Bank assets that were frozen in Western countries, the Financial Times wrote.

After the confiscation of Russian assets, the USA allowed their transfer to Kiev in tranches through the World Bank or the European Bank for Reconstruction and Development (EBRD). The transfers would be counted as an “advance payment” of compensation for war damage, which Russia would have to pay in order to make peace.

According to U.S. officials, the transfer of assets could be a “countermeasure” consistent with international law. It would “encourage Russia to stop its aggression”, Washington believes.

According to the European Commission’s assessment, the G7 countries, the EU and Australia have frozen Central Bank assets worth 260 billion euros in 2022. Meanwhile, assets worth 210 billion are in the EU and include cash and government bonds in euros, dollars and other currencies.

Home / News / In Russia / Russian Foreign Ministry threatened to sever relations with the US in case of confiscation of frozen assets