ussia’s President Vladimir Putin denounced an agreement by Western countries to provide Ukraine with a loan package using frozen Russian assets and pledged retaliation.
Speaking at a meeting on Friday with officials from the foreign ministry, Putin said leaders in the West were trying to come up with “some kind of legal basis” for the asset freezes, “but despite all the trickery theft is still theft and will not go unpunished”.
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He added Moscow’s treatment was proof that “anyone” could be next and punished by an asset freeze.
Putin’s comments came after the Group of Seven (G7) members agreed on an outline deal for a $50bn loan package for Ukraine using interest from Russian sovereign assets frozen after Putin sent his troops into the neighbouring country in February 2022.
The G7 comprises Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The European Union also participates in all discussions.
Following the announcement at the G7 annual summit in Italy, US President Joe Biden said the frozen assets agreement was a “significant outcome” and “another reminder to Putin that we’re not backing down”.
The details of the agreement are expected to be finalised in the coming weeks, and the money is expected to reach Ukraine by the end of the year.
However, Russia’s foreign ministry spokeswoman Maria Zakharova dismissed the deal on Friday, saying it was “just pieces of paper”.
“These agreements are about nothing. They do not have legal force,” Zakharova was quoted by Russian news agencies as saying.
