Russia threatens to sever diplomatic ties with the US if assets are confiscated for Ukraine
Sergei Ryabkov (Photo - EPA)

Russia may sever diplomatic ties with the United States if Washington confiscates Russian assets frozen due to Russia's invasion of Ukraine, says Deputy Minister of Foreign Affairs of the Russian Federation Sergei Ryabkov, as quoted by Reuters.

Ryabkov stated that the United States "should not be under the illusion that Russia clings to diplomatic relations with them with both hands" and that Moscow is "prepared for any scenario."

He suggested that the "trigger" for severing relations could be "asset confiscation, further military escalation, and much more."

Kremlin spokesperson Dmitry Peskov also declared today that Russia will "never let go" of any country that seizes its assets and will take responsive actions regarding the confiscation of the assets of such countries.

On December 16, it was reported that G7 countries are discussing the confiscation of Russian assets for transfer to Ukraine. The United States, which had not previously publicly supported such confiscation, informed allies that they had found a way to seize assets "in accordance with international law."

About $300 billion of the reserves of the Central Bank of Russia are frozen in Western countries.

  • On October 28, 2023, during a summit in Brussels, EU leaders approved a plan that envisions directing billions of euros in revenue from frozen Russian assets to aid Ukraine.
  • On November 15, the Czech government decided to freeze all Russian state assets.
  • On December 1, Switzerland froze financial assets belonging to Russian citizens and companies, amounting to $8.81 billion, as part of sanctions for the military aggression against Ukraine.