Russia threatens the EU with 50 years of lawsuits over frozen assets for Ukraine.

Threats from the head of VTB to Europe

According to ТСН: The head of the Russian state bank VTB, Andrey Kostin, stated that if frozen Russian assets are used to finance Ukraine, the European Union will have to face years of lawsuits.

We're talking about around 140 billion euros that remain blocked in Europe since the beginning of the full-scale invasion. The EU is considering the possibility of using these funds for the defense and budget needs of Ukraine; however, at the October summit, leaders could not reach a consensus due to Belgium's position.

Kostin noted that Russia "can do without this money," but finds it unacceptable for Europe to attempt to "wage war with someone else's hands and someone else's money." He warned that the Kremlin would intensify its response to any attempts to seize assets, including possible confiscations of European investors' properties in Russia and prolonged international court proceedings.

"We can start 50 years of lawsuits — both in Russia and in international instances. Perhaps even in the UN court," Kostin said.

Despite this, he noted that some of Russia's sovereign assets could be used within the framework of a broader peace agreement to end the war in Ukraine. Kostin reminded that earlier versions of the American peace plan mentioned that 100 billion dollars of frozen funds could be directed to the reconstruction of Ukraine, and part of it could be invested in a joint fund of the USA and Russia.

Kostin also emphasized the importance of the visit of US special envoy Stephen Witkoff to Moscow, stating that Russia "is ready for compromises," but achieving an agreement takes time.

"Sooner or later, we will reach an agreement. Life shows that compromises need to be sought. Russia is also ready for them, because negotiations are never one-sided," he concluded.

The European Commission believes that utilizing frozen Russian assets is the most effective way to cover the costs of aid to Ukraine. The proposed loan of 140 billion euros does not imply confiscation of Russia's funds and will only be repaid if Moscow pays war reparations to Kyiv.

This situation reflects the complex dynamics between Russia and the European Union in the context of the war in Ukraine. Despite attempts to resolve financial issues, the positions of both sides seem unchanged, complicating the chances of achieving lasting peace. The importance of dialogue and compromises becomes increasingly evident amid escalating animosity and economic losses.