Since Vladimir Putin ordered the full-scale invasion of Ukraine nearly two years ago, assets from the Russian Central Bank have been frozen by the Western world.
Urgent discussions have now commenced between the USA and other G7 nations about seizing these Russian assets, believed to be worth over 300 billion dollars, and using them to strengthen Ukraine and their defense against Russia.
The discussion has caused Moscow to seethe with anger, reports The Guardian.
"The illegal seizure of our assets remains unexceptionally on the agenda in both Europe and the USA," says Putin's spokesperson Dmitry Peskov, according to the British newspaper.
"This issue is unacceptable to us. Potentially, it is extremely dangerous for the global financial system."
Threatens with "Military Escalation"
Russia is now warning the Western world against making the plans to seize the assets a reality, which could happen in February in conjunction with the two-year anniversary of the invasion.
If the West does not heed the warning, the Putin regime does not rule out "further military escalation," says Sergei Ryabkov, Deputy Foreign Minister of Russia.
"You must realize that Russia will never leave those who do it in peace," threatens another representative from the Russian government to the press corps on Friday.
Desperate Ukraine
Joe Biden has so far not signed any decision that greenlights such a strategy.
But talks about seizing the Russian bank money have accelerated because the Republicans have blocked an agreement on new military aid to Ukraine – a package that Ukraine desperately needs after the counteroffensive did not bear fruit.
"It is necessary to work on concrete methods to use frozen Russian assets to compensate for the damages caused by Russia," said Ukraine's President Volodymyr Zelensky already last spring.
"It will be a peace-making act across the world. Potential attackers must see this and remember that the world can be strong."
Russian Revenge
In April, Putin signed a decree authorizing the Russian state to temporarily take control of foreign companies' assets in Russia.
The decision is seen as an apparent revenge for the freezing of Russian assets abroad.
"In the end, if someone confiscates something from us, we will see what we can confiscate in return. And if something is found, we will of course do it immediately. Therefore, this is a step that can only have serious consequences," says Dmitry Peskov.
