ISTANBUL

Russia will take “very harsh retaliatory measures” if the EU proceeds with plans to transfer frozen Russian assets to Ukraine, Foreign Ministry spokesperson Maria Zakharova warned on Wednesday.

“European officials are trying to brazenly pocket Russian funds – the more, they believe, the better off they will be,” Zakharova told reporters in Moscow.

“However, the fraudulent lending scheme they are promoting (to Kyiv) has provoked an extremely muted reaction in many European capitals. The desire for fraud still gives way to fear of legal consequences and retaliatory measures. I repeat, these measures will be very tough.”

Her comments came after Belgian Prime Minister Bart De Wever called for full legal guarantees from the entire EU before any expropriation of Russian assets, a stance that reportedly irritated some European leaders during last week’s informal EU summit in Copenhagen.

Officials in Belgium defended De Wever’s position, saying he was acting to “protect national interests.”

The majority of Russia’s sovereign assets frozen in Europe — totaling over €200 billion — are currently held by the Euroclear financial platform in Belgium.

European Commission President Ursula von der Leyen said last month that the EU does not plan to confiscate Russian assets outright but intends to use the proceeds from them to provide loans to Ukraine.

Russian President Vladimir Putin previously warned that any attempt by Western countries to seize Russian reserves would “destroy the global financial and economic order” and deepen “economic separatism.”

Kremlin spokesman Dmitry Peskov also said Moscow would “definitely respond” to what he described as theft, adding that Russia would pursue legal action against those responsible.