In a fiery rebuke, Russian President Vladimir Putin has lashed out against Western countries’ agreement to provide Ukraine with a $50 billion loan package using frozen Russian assets.
At a Friday meeting with foreign ministry officials, Putin accused leaders in the West of attempting to create a “legal basis” for the asset freezes, declaring that “theft is still theft and will not go unpunished.”
Putin’s comments came in the wake of the Group of Seven (G7) nations’ announcement of an outline deal to utilize interest from Russia’s frozen sovereign assets to fund the substantial loan for Ukraine. The G7, comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, along with the European Union, have stood firm in their support for Ukraine amid the ongoing conflict with Russia.
US President Joe Biden hailed the agreement as a “significant outcome” and “another reminder to Putin that we’re not backing down.” However, Russia’s foreign ministry spokeswoman, Maria Zakharova, dismissed the deal as mere “pieces of paper” without legal force.
In his scathing remarks, Putin warned that the West’s actions could set a dangerous precedent, suggesting that “anyone” could be next in line for an asset freeze. He accused the West of “trickery” and vowed that the seizure of Russian assets would not go unpunished.
The details of the $50 billion loan package are expected to be finalized in the coming weeks, with the funds anticipated to reach Ukraine by the end of the year. This latest development underscores the escalating tensions between Russia and the Western powers as they navigate the complex geopolitical landscape in the wake of the ongoing conflict in Ukraine.
