Vladimir Putin on Friday termed the attempts being made by the European Union (EU) to seize Russian assets as "robbery."
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MOSCOW — Russian President Vladimir Putin on Friday termed the attempts being made by the European Union (EU) to seize Russian assets as "robbery."
"Theft is an inappropriate definition. Theft means secret stealing of property. But in this case, they're trying to do it openly. That's robbery," Russia's state-run news agency Tass quoted Putin as saying during his annual Q&A session and the year-end press conference titled 'Results of the Year', being held on Friday.
He warned that seizure of Russian assets in Europe would undermine trust in the Euro zone as several nations like Russia keep their gold and currency reserves in Europe.
"There would also be more severe consequences for those who are trying to do it. It’s not just a blow to their image; it’s a breakdown of trust in the Euro zone, in this particular case. The reason is that apart from Russia, many other countries also keep their gold and currency reserves in Europe, as well as those who have free resources," Putin said.
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Meanwhile, the leaders of the European Union failed to reach a deal on a reparations loan for Ukraine, raising a joint debt of 90 billion euros instead of a financing loan. Hungary, the Czech Republic, and Slovakia will not be part of the scheme, Euro News reported.
EU leaders will raise 90 billion euros in joint debt to fund Ukraine for the next two years after they failed in their plan to issue a reparations loan. EU leaders agreed to issue joint debt to keep Ukraine afloat in 2026 and 2027 against the bloc's common budget after they faced a stalemate over Belgium's demand to secure unlimited guarantees before using the immobilised Russian assets hosted in the country.
Prior to the summit held in Brussels on Thursday, EU leaders had suggested that there was no plan B and made efforts to provide a reparations loan to Ukraine, supported by the Russian Central Bank's immobilised assets. German Chancellor Friedrich Merz led the efforts, but he was unsuccessful to secure loan for Ukraine as Belgian demands for unlimited guarantees made it impossible.
Following the summit, European Commission President Ursula von der Leyen, accompanied by Danish Prime Minister Mette Frederiksen, said the primary goal of funding Ukraine has been achieved.
Speaking to reporters, Frederiksen stated: "The bottom line, after today, is that our support for Ukraine is guaranteed."
Prior to the summit, Hungary had indicated that it would not agree to the EU's plan for providing a reparations loan to Ukraine. Hungarian Prime Minister Viktor Orban has refused to give financial support to Ukraine and has repeatedly slammed European leaders for their handling of the Russia-Ukraine conflict.