Putin brands EU seizure of frozen Russian assets as 'robbery'

Russian President Vladimir Putin has launched a fierce rhetorical attack against the European Union's efforts to seize frozen Russian central bank assets, declaring that the bloc is "not succeeding" in its attempts and describing the action as open "robbery." Speaking at his annual year-end press conference in Moscow on Friday, Putin vowed that Russia would mount a vigorous legal defense and warned that such a move would have catastrophic implications for the international financial system.

Defining an Act of 'Robbery' and the Threat of a Precedent

Putin drew a sharp distinction between theft and the EU's plan, arguing, "Theft is a secret appropriation, while they are trying to do it openly. It's robbery." He cautioned that this action would establish a dangerous precedent, allowing powerful states to expropriate the assets of others "under various pretexts," using hypothetical objections to laws in Muslim countries as an example. The Russian leader framed the issue as a fundamental assault on property rights that would erode global trust, not only in the euro but in Western financial institutions as a whole.

Warnings of Systemic Collapse and Ultimate Futility

The Russian president outlined what he characterized as dire economic and legal repercussions. He argued that seizing assets to back loans would force European nations to increase their national debts, placing additional strain on already stressed budgets. More critically, Putin asserted the move "undermines global trust" and alarms other nations that store reserves in the Eurozone. "Whatever they steal and however they do it, sooner or later they will have to give it back," he stated, promising that Russia would find a jurisdiction willing to hear its case.

Context and Broader Financial Warfare

Putin's remarks represent the Kremlin's most direct and high-level response to EU discussions on legally harnessing approximately €300 billion in immobilized Russian assets to fund Ukraine's reconstruction. His framing of the issue as "robbery" and a threat to the financial system's foundations escalates the narrative of economic warfare between Russia and the West, positioning Moscow as a defender of international legal norms against what it portrays as Western lawlessness.