Moscow warned on September 15 that it would " pursue all possible ways" against European countries if they took the step of using frozen Russian assets to support Ukraine.
The warning came after the European Union (EU) sought new measures to exploit hundreds of billions of dollars in frozen Russian assets.
Sanctions imposed by the US and its allies since 2022 have blocked transactions with the Russian Central Bank and the Russian Ministry of Finance, and frozen about $300 - 350 billion in assets, mainly US, UK and European government bonds held in a European stock exchange.
European Commission President Ursula von der Leyen wants to find a way to use the money associated with frozen Russian assets to support Ukraine's defense. One source said the EU is considering taking advantage of a deposit from Russia's maturity bonds at the European Central Bank for a "compensation loan" for Kiev.
Dmitry Medvedev, a former Russian president and now deputy head of the Russian Security Council, wrote on Telegram that if the plan comes true, Russia will chase EU countries until the end of the century. He stressed that Russia will act in international and national courts, as well as outside the legal framework.
Russia has called the seizure of its assets a "theft" by the West, warning that this would undermine confidence in US and European bonds and currencies. Meanwhile, European countries have affirmed that Russia must bear responsibility for the damage caused by the war in Ukraine - the conflict considered the most fierce in Europe since World War II.
Some banks have expressed concern that the seizure of national assets could set a dangerous precedent, weakening the confidence of foreign governments when investing in Western bonds. Medvedev has previously said Russia would seize more territory from Ukraine and target British assets globally after London used about $1.3 billion in frozen Russian assets to buy weapons for Kiev.
Sources point out that the total amount of Western foreign direct investment in Russia of up to 285 billion USD could be put at risk if Russian assets are seized.
