Putin aide states Russian asset freeze turned against West
(MENAFN) The Western freeze on Russia’s sovereign assets has damaged confidence in the global financial system, according to Maksim Oreshkin, deputy head of President Vladimir Putin’s administration. Since the Ukraine conflict began in February 2022, the US and EU have blocked over $300 billion in Russian state assets. The EU recently approved plans to use profits from these frozen funds to aid Ukraine, with some countries advocating for full confiscation.
In a Sunday interview on Rossiya-1, Oreshkin said this strategy has backfired, calling it a significant blow to Western financial institutions and nations. “This isn’t hypothetical — the harm is already done,” he stated.
President Putin also warned during a visit to Belarus that the seizure of Russian assets could drive other nations away from Western financial systems, describing this shift as irreversible and potentially beneficial to the global economy despite its costs.
Moscow has maintained that confiscating its funds violates international law, and concerns over sovereign immunity and property rights have so far prevented the EU from fully endorsing such measures.
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