Russia Promises Retaliation if EU Utilizes Frozen Assets

Russia pledged on Thursday to "respond in kind" if the European Union proceeds with plans to profit from Russian assets frozen in the EU and transfer the proceeds to Ukraine. The EU is proposing to use the income generated from approximately $300 billion in funds frozen from the Russian central bank's reserves, which could ultimately yield around $16 billion. Russian Finance Minister Anton Siluanov stated in an interview with Russia 24 television: "We also have sufficient frozen assets here in Type C accounts." He added: "The figures are not small, and the income from using these funds is significant and can certainly be utilized if a decision is made by our unfriendly partners." The Russian news agency reported that Anton Siluanov stated on Thursday that "Moscow is preparing a list of about 30 state-owned companies that could be privatized."