The State Duma unanimously supported the adoption at the plenary meeting of the State Duma's appeal to Prime Minister of the Russian Federation Mikhail Mishustin regarding the development of a plan of reciprocal measures in the event of an adoption of a decision by the European Union to seize Russia’s assets.
The authors of the document draw attention to the proposals of the President of the European Commission Ursula Gertrud von der Leyen for EU member states to issue a “reparation loan by using Russia's frozen sovereign assets.” Thus, Brussels intends to use the funds of the Central Bank of the Russian Federation frozen in the Belgian Euroclear Bank as collateral for the so-called “reparation loan” to Ukraine.
“The new proposal to seize Russia’s assets also contradicts the regulations regulating the activities of the European Union itself. For example, Article 17 of the Charter of Fundamental Rights of the European Union prohibits the deprivation of property except on the condition of payment of fair compensation.” “It is clear that the proposed idea of using Russia’s assets by the EU member states to provide loans does not provide for any compensation, which is a real illegal seizure of property. Therefore, if implemented, this decision could be considered as an outright theft,” the statement says.
The members of the State Duma emphasize that “such illegal actions by the European Union — and even the mere discussion of such possibility — undermine the EU's image as a jurisdiction and issuer of a reserve currency, and could lead to a loss of trust in Western institutions as a whole.”
“The confiscation of Russia’s assets, no matter how sophisticatedly it is explained, cannot be perceived as anything other than a violation of Russia's sovereign rights. Any infringement on Russia’s assets must be met with an appropriate legal response, beginning with claims for damages, demand for the seizure of property as a security measure, against Euroclear and Belgium, where the majority of the illegally frozen sovereign funds are held, in any jurisdiction.” “The assets of non-residents from unfriendly states may also be used as a source of compensation for damages,” the text states.
In connection with the foregoing, the State Duma has asked the Prime Minister of the Russian Federation to prepare, in advance, a plan for Russia's possible response, together with the Central Bank of the Russian Federation, in the event o an adoption of such decision by the European Union.
