EU moves toward indefinitely blocking €210 billion in Russian holdings.
On Friday, Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan discussed the situation in Ukraine and the possible immobilization of frozen Russian assets in Europe.
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“There was a comprehensive exchange of views on Ukraine, regional issues and international affairs,” Russian presidential spokesperson Dmitry Peskov said after the meeting in Ashgabat, the Turkmen capital.
The two leaders also exchanged views on “the Europeans’ attempts to perpetrate a large-scale scam with Russian funds.” Putin reiterated his position on the matter, which is “well known,” Peskov noted.
The Russian and Turkish leaders agreed that Brussels’ plans regarding Russian assets would undermine the foundations of the Bretton Woods international financial system in place since the mid-20th century.
On Friday, European Union countries were expected to approve the indefinite immobilization of about €210 billion in Russian assets frozen under sanctions imposed on Moscow after the start of the Ukrainian war — a key step toward potentially using those funds for the reconstruction of Ukraine if Belgium lifts its veto on the proposal in the coming weeks.
In late November, Putin called the plan to confiscate Russian assets “the theft of others’ property” and said Moscow would respond to what he described as a hostile measure. On Thursday, the Russian Foreign Ministry insisted that Russia’s retaliation would be “tough.”
So, when you hear about the EU using “Russian frozen assets” for Ukraine
What does it actually mean?
It means stealing. Plain and simple. Stealing to flush one of the world’s most glaringly corrupt, dysfunctional countries with more cash. pic.twitter.com/KQvirNoOeF
— Chay Bowes (@BowesChay) December 12, 2025
Russian Central Bank Sues Belgian Depository Euroclear
On Friday, the Central Bank of Russia (CBR) filed a claim with the Moscow Arbitration Court against the Belgian depository Euroclear in an effort to obtain compensation for damages caused by the handling of its assets without the consent of the Russian side.
CBR Governor Elvira Nabiullina argues that Euroclear’s decisions “caused damage to the CBR due to the inability to manage the cash and securities belonging” to the bank that were deposited there.
Russian authorities have argued that the European Commission’s decisions regarding the proposed loan for Ukraine’s reconstruction are illegal because they involve the use of others’ assets without consent.
Therefore, implementation of the plan will result in the CBR’s unconditional challenge to any direct or indirect action leading to the unauthorized use of the Bank of Russia’s assets before all available competent authorities.
“The CBR reserves the right to apply, without prior notice, all legal and other mechanisms available to protect its interests in the event of further progress or any form of implementation of the aforementioned European Union initiatives,” the Russian monetary authorities said.
#FromTheSouth News Bits | Russia and India agreed to increase their trade exchange to an equivalent of a hundred billion dollars by 2030. pic.twitter.com/Nv6IUJ1Jzs
— teleSUR English (@telesurenglish) December 9, 2025
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Source: EFE
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