Moscow Claims that US Government Policy Now Includes the 'Theft' of Sovereign Assets
The Russian Embassy in the US has stated that Washington has made the theft of sovereign assets a government policy. Read Full Article at RT.com
TroibNews 
On Wednesday, President Joe Biden announced a plan to utilize frozen Russian funds to provide support for Ukraine. This strategy involves employing proceeds from these assets to help repay a substantial $20 billion loan to Ukraine, marking a controversial approach that has drawn criticism from the Russian Embassy in the United States.
In his press release, Biden referred to this initiative as a “historic decision to leverage Russian sovereign assets to support Ukraine.” The loan for Ukraine is part of a broader $50 billion package pledged by the G7. Coinciding with Biden's announcement, both the EU and the UK unveiled their own loans, which will similarly be repaid through interest accrued from Russian funds.
Biden emphasized that using these blocked Russian funds will enable assistance to Ukraine “without burdening taxpayers.” The US has emerged as Ukraine’s largest military backer, with over $64 billion provided in military aid since the conflict escalated in 2022.
The Russian Embassy reacted to the White House statement, particularly highlighting the term “historic.” In a Thursday statement, they asserted, “It is clear even to the average person what is truly ‘significant’ in this case is the theft elevated here to the rank of state policy.”
The embassy also highlighted that similar Western actions have faced rejection on the global stage. They condemned the actions of a “small group of countries led by the United States,” stating that these measures have received "sharp rejection" from the global majority.
In light of these tensions, the recent BRICS Summit in Kazan pointed out the need for multilateral efforts to establish an independent financial system insulated from such “blatant illegal actions.” The BRICS leaders criticized the “unlawful unilateral coercive measures” imposed by Western nations, arguing that these sanctions are inconsistent with World Trade Organization rules and destabilize the multilateral trading system.
After the onset of the Ukraine conflict, Western countries sanctioned approximately $300 billion in Russian sovereign assets, restricting access within Western financial institutions. Despite pressure from the US to fully confiscate these funds, the IMF has resisted, warning that such actions could damage global confidence in Western financial systems. Moscow has stated it would consider this action as “theft” and has threatened to respond accordingly.
Alejandro Jose Martinez for TROIB News
In his press release, Biden referred to this initiative as a “historic decision to leverage Russian sovereign assets to support Ukraine.” The loan for Ukraine is part of a broader $50 billion package pledged by the G7. Coinciding with Biden's announcement, both the EU and the UK unveiled their own loans, which will similarly be repaid through interest accrued from Russian funds.
Biden emphasized that using these blocked Russian funds will enable assistance to Ukraine “without burdening taxpayers.” The US has emerged as Ukraine’s largest military backer, with over $64 billion provided in military aid since the conflict escalated in 2022.
The Russian Embassy reacted to the White House statement, particularly highlighting the term “historic.” In a Thursday statement, they asserted, “It is clear even to the average person what is truly ‘significant’ in this case is the theft elevated here to the rank of state policy.”
The embassy also highlighted that similar Western actions have faced rejection on the global stage. They condemned the actions of a “small group of countries led by the United States,” stating that these measures have received "sharp rejection" from the global majority.
In light of these tensions, the recent BRICS Summit in Kazan pointed out the need for multilateral efforts to establish an independent financial system insulated from such “blatant illegal actions.” The BRICS leaders criticized the “unlawful unilateral coercive measures” imposed by Western nations, arguing that these sanctions are inconsistent with World Trade Organization rules and destabilize the multilateral trading system.
After the onset of the Ukraine conflict, Western countries sanctioned approximately $300 billion in Russian sovereign assets, restricting access within Western financial institutions. Despite pressure from the US to fully confiscate these funds, the IMF has resisted, warning that such actions could damage global confidence in Western financial systems. Moscow has stated it would consider this action as “theft” and has threatened to respond accordingly.
Alejandro Jose Martinez for TROIB News
