Moscow Reminds 'Sufficient Retaliation' Response To G7's Decision To Use Russian Asset Money Frozen

Russian Foreign Ministry spokesman Maria Zakharova (Twitter/@RussianEmbassy)

JAKARTA - Moscow warned of retaliation following the G7's decision to use frozen Russian assets to loan to Ukraine.

Russia's foreign ministry warned leaders of Group of Seven (G7) countries would face a suffering' retaliatory act following their decision to lend money to Ukraine using profits from frozen Russian investments.

The agreement to provide Ukraine with 50 billion US dollars from frozen Russian asset interest will not bring goodness to the West, Russian Foreign Ministry spokesman Maria Zakharova told a news conference in Moscow reported by CNN, Thursday, June 13.

Zakharova called the agreement an "illegal initiative" which "threates the imbalance of the financial system and creates a devastating crisis."

"There is enough property and European money in Russia... and unavoidable countermeasures will be very painful," he said.

As previously reported, leaders of Group of Seven (G7) countries agreed to an agreement to lend 50 billion US dollars to Ukraine.

Pinajaman is using interest from frozen Russian state assets after Moscow launched an invasion of its neighboring country in 2022.

The political agreement is at the heart of the opening day of the G7 leaders' annual summit in Italy, which was attended by Ukrainian President Volodymyr Zelenskiy.

The Ukrainian leader will sign a new long-term security agreement with US President Joe Biden on Thursday, as well as agreements with fellow G7 members, Japan.

Many G7 leaders are experiencing difficulties at home but are determined to make differences on the world stage because they are also trying to fight China's economic ambitions.

"There is a lot of work to be done, but I'm sure that in the past two days we will be able to hold discussions that will produce concrete and measurable results," Italian Prime Minister Giorgia Meloni told G7 guests as their talks began at a luxury resort in Puglia., reported by Reuters, Thursday, June 13.