Putin explains what will happen if West 'robs' Russia's reserves

RT
Thu, 26 Jun 2025 20:52 UTC

© Sputnik / Sergey Bobylyov

Russian President Vladimir Putin

Seizing the frozen funds would hasten the shift to regional payment systems, the president has said

Any attempt by the West to seize Russia's frozen reserves would set off an irreversible shift toward regional payment systems, which would ultimately benefit the global economy, President Vladimir Putin has said.

An estimated $300 billion worth of Russian sovereign assets were frozen by the West following the escalation of the Ukraine conflict in February 2022. Around €200 billion ($209 billion) is held by Euroclear, a Brussels-based clearing house. EU foreign policy chief Kaja Kallas has repeatedly called for the funds to be tapped for Ukraine's reconstruction, although some member states have pushed back on the idea.

There's constant talk in the West "about how they are going to steal our money," Putin said at the Eurasian Economic Forum in Minsk on Thursday. "As soon as it happens, the shift toward regional payment systems will accelerate and undoubtedly become irreversible," he said, adding that ultimately that would be a good thing for the global economy.

"Maybe it's even worth paying the price for that," the president argued.

Putin added upon further reflection that the term "theft" was insufficient. "Theft is the secretive taking of property - this is open. This is robbery," he said.

"We're determined to continue strengthening our own financial and settlement instruments in this regard," Putin stressed.

The frozen funds have already accrued billions of euros in interest, $1.63 billion of which Euroclear transferred to Kiev last July to back a $50 billion loan for Ukraine provided by the G7.

Brussels is currently discussing ways to extract more revenue from the immobilized assets without violating international legal norms. The International Monetary Fund has warned that outright seizure could damage global trust in Western financial institutions.

Discussions among member states about confiscating the assets have been ongoing for more than three years without any resolution.

Moscow has condemned the freezing of its assets and has hinted at possible retaliatory measures against Western investments and property in Russia.

Comment: Note: 300 Billion is about 13-14 % of the Russian GDP. Imagine doing that to another country?

1)

Putin added upon further reflection that the term "theft" was insufficient. "Theft is the secretive taking of property - this is open. This is robbery,"

While the West has promoted itself as being a champion of the rule of law, there are many examples that indicate the promoters act in accordance with the rule of outlaws; that is, they do whatever they can get away with.

2) Another interpretation of the calls for using the frozen Russian assets, is that the Western elites may be assuming that Russia as a legal entity and potential claimant, can be done away with.

• SOTT Focus: The Hidden Logic Behind the Iran-Israel War: It's Not Just About Iran. It's About Saving the Dollar (Jun 2025) If the USD collapses, would the Euro too? Both would similarly encourage countries to trade or barter between themselves.
• U.S. strategic aim: Break and dismember Russia; or maintain U.S. dollar hegemony? Or a muddled 'both'? (Jan 2023)
• The Brits & Ukrainians plot to manipulate Trump into an escalation against Russia (Jun 2025)
• Vladimir Kornilov: Time to drop our illusions, the West is waging a war to destroy Russia (Sep 20, 2022, [This was a week before the Nord Stream bombing in the Baltic Sea!])
• US gov't body plots to break up Russia in name of 'decolonization' (Jun 2022)
• Czech military expert: NATO planned to dismember Russia in the '90s (Jul 2019)

3) In the process and aftermath of the 1917 Russian revolution and following the break up of the USSR around 1990, huge amounts moved from the area of Russia and later USSR to the West. What is happening now is a continuation. The silver lining of the affair is, as Putin suggests, that there will be a shift toward regional payment systems, and this shift is already being fueled by sanctions policies.