Furious Russia Will “Respond In Kind” To Europe’s “Political” Asset Seizures
On Thursday, nearly 50 Belgian companies were told to disclose their Russian state assets, setting the stage for the seizure of Russian property in connection with the disputed $50 billion Yukos verdict.
In short, Russia was required to submit a plan for a €1.6 billion payment by June 15 pursuant to the 2014 arbitration court decision which found in favor of Yukos shareholders who the ECHR ruled were treated unfairly when Moscow seized the company amid allegations of fraud and other crimes. Russia appealed the ruling and lost.
Because Russia does not look set to comply, Belgium is effectively moving to enforce the ruling itself. Austria and France also moved to freeze Russian assets on Thursday.
It now appears the timing of the asset freezes was designed to stir controversy in St. Petersburg where Russia is hosting an annual business forum (described by some as a “Russian Davos) and where Greece is executing the first stages of the dreaded ‘Russian pivot.’
Now, Russia looks set to retaliate, threatening to freeze Belgian, Austrian, and French assets until such a time as the countries’ “illegal” actions are reversed. RT has more:
Moscow will take reciprocal action in response to the seizure of its foreign assets, Foreign Minister Sergey Lavrov has warned.“Our response would be in kind. This is inevitable. This is the only way of acting in international affairs,” he told RBK-TV in an intervew.
Lavrov was commenting on the seizure in Belgium and France of Russian state-owned assets. The arrest were made on request of beneficiaries of the now-defunct oil giant Yukos, who were awarded damages from Russia by an arbitration court in The Hague. Russia is in the process of challenging the ruling.
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