Its Assets Are Threatened With Confiscation For Ukraine's Reconstruction Fund, Russia Is Ready To Confiscate Western Assets In Its Territory

Juru bicara Kementerian Luar Negeri Rusia Maria Zakharova. (Wikimedia Commons/DIP Ministry of Foreign Affairs of the Russian Federation photographer Nikita Kochuk)

JAKARTA - Russia has firmly stated that it does not rule out seizing the assets and businesses of Western countries on their territory, following the renewal of sanctions against Moscow.

Foreign Ministry spokeswoman Maria Zakharova warned that Russia was ready to do the same if the West decided to use frozen Russian assets.

"The use of the funds will be interpreted by us as an unlawful and clearly hostile attack, giving us the right to take retaliatory measures to protect our interests," Zakharova said.

High-ranking Western officials, including the European Union's foreign policy chief Josep Borrell, have suggested the seizure of frozen Russian assets. to help fund the reconstruction of Ukraine after the war.

Zakharova called the West's move to freeze assets, imposed in response to Moscow sending tens of thousands of troops to Ukraine on February 24, a violation of international law.

"We must not forget the foreign assets of Western countries, businesses and citizens who are on the territory of our country," he said.

If the West fails to adhere to the principles of democracy, open economy, private property and judicial independence, then "we will recognize this and act accordingly," Zakharova added.

Dozens of international companies including oil giant BP, French carmaker Renault to McDonald's have suspended operations there since Moscow began what it calls special military operations, followed by harsh Western sanctions.

Earlier, Russian lawmakers in May gave preliminary approval to a bill that would allow the government to nationalize the assets of departed Western companies, although it is not yet on the statute book.