Speaking at his annual press conference on Dec. 19, Russian President Vladimir Putin warned of the danger to the international financial system if the EU threats to confiscate Russian frozen assets in Europe and use them to finance Ukraine should be carried out. While such a measure was rejected earlier this week, it still remains on the EU table of tricks.
Putin said: “First, it is difficult to accomplish. They have not said that they will rob and seize. One of their ideas is to issue a reparation loan secured by our assets….
“But there will be graver consequences for those who might endeavor that. This will not just be a blow to their image, but this will subvert all the confidence in the euro area, since many countries store their foreign reserves in the eurozone. Not only Russia does that, but also those who have free reserves, primarily oil-producing countries. They will look at what is happening—they are already doing so, and they will have suspicions, doubts and fears. What if the same happens to them?” he demanded to know.
