Moscow to use all legal means against asset profit transfer to Ukraine

Moscow, March 22 (IANS) Russia will use all available legal mechanisms and will retaliate if the EU moves forward with plans to use profits from frozen Russian assets to arm Ukraine, Kremlin Spokesman Dmitry Peskov said.

"We will use all possible judicial mechanisms, those that are available now and those that will become available in the future," Peskov added on Thursday.

His statement follows a proposal made by EU foreign policy chief Josep Borrell on Tuesday to use revenues from Russia's frozen assets to provide military assistance to Ukraine, Xinhua news agency reported.

Borrell suggested using 90 per cent of the profits generated from Russian assets to supply Ukraine with arms via the European Peace Facility.

"On the basis of reciprocity, we will not deliver a mirror response but will choose other response measures that will correspond to our own interests," Peskov said.

Western countries have imposed sanctions on Russia since February 2022, freezing sovereign and private assets.

Russia's currency reserves were frozen to the amount of nearly $300 billion.