International court rulings or official statements

Kremlin Calls $1 Billion Transfer to Ukraine 'Theft,' Threatens Legal Action Over G7-Frozen Assets

Dec 25, 2024, 10:53 AM

The Kremlin has labeled the transfer of $1 billion to Ukraine, funded by profits from Russian assets frozen by Western nations, as 'theft.' Kremlin spokesman Dmitry Peskov stated that the money was stolen from Russia and that the blocking of Russian assets is illegal, contravening all norms and rules. Peskov warned that such actions could lead to future legal action, with Russia intending to use all available means to defend its rights and reclaim its property. The funds were reportedly sent by the United States via the World Bank, as part of a larger G7 initiative involving the G7 and the EU, aimed at supporting Ukraine with a total of $50 billion in loans, serviced by future revenues from Russia's frozen assets. The US has pledged $20 billion, while the G7 and the EU will contribute an additional $30 billion.