New Delhi: Russia has lodged protest against the European move to sell its frozen assets and transfer the proceeds to Ukraine. Moscow has described the initiative as unfair. Officials have made it clear that the government will challenge the plan in courts and pursue other avenues of resistance. Russia has also declared that any country trying to liquidate its wealth will remain a long-term target.

The dispute stems from measures taken after the 2022 invasion of Ukraine. The United States and its European allies froze Russian state assets and the holdings of wealthy individuals. Estimates suggest that between $300 billion and $350 billion belonging to the Russian government and Russian reserves in foreign banks were seized during that period.

Formal Process In The EU

Talks on using the frozen money for Ukraine have circulated for months. In recent weeks, the European Union has begun drafting a formal procedure. Both the United Kingdom and the United States are also preparing frameworks to push the plan forward. If completed, this would permanently remove hundreds of billions of dollars from Russian control.

European leaders want the money directed to Ukraine’s war needs. Funds will be channelled into weapons procurement and direct financial assistance.

According to sources, EU chief Ursula von der Leyen has asked for an acceleration of this mechanism to deliver stronger military support. In addition, discussions are underway on selling Russian bonds and cash reserves held in international banks to finance Kyiv’s defence.

Moscow’s Warning

Former Russian President Dmitry Medvedev has warned, “Any European country that destroys our property should understand we will settle accounts with them by the end of the century.”

He called the plan an act of theft and added that Russia will seek justice through legal means as well as actions outside the courtroom.

Medvedev stressed that no government should underestimate the consequences. According to him, any country endorsing the plan will place itself directly in Russia’s line of fire.

While Moscow describes the plan as robbery, European governments argue that Russia must bear responsibility for the destruction in Ukraine. They insist that seized Russian wealth should be used to pay for damages inflicted by the war.