Kremlin says seizure of Russian assets will be challenged in court

The Kremlin on Monday warned that the seizure of Russia's assets by Western countries, believed to be worth $300 billion that were frozen after Moscow launched its "special military operation" in Ukraine in February 2022, will be challenged in court.

"If such decisions are made, they will be deeply illegal. They will have very, very long, for many decades, judicial prospects for those who make these decisions and for those who implement these decisions," spokesman Dmitry Peskov told a press briefing in Moscow.

Expressing that seizing someone else's property "undermines the foundations of the entire economic system, including the economic system of those implementing such decisions," Peskov said Moscow is convinced decision-makers understand these "inevitable consequences."

Peskov went on to say they will carefully monitor the situation, but also noted the importance of waiting for official statements. "Now even the most serious publications, unfortunately, make many mistakes, consciously or unconsciously," he added.

British daily Financial Times says G-7 countries are drawing up plans to issue debt to help fund Ukraine's reconstruction with the support of Russian assets.

Peskov also welcomed the Dutch-based Yandex N.V.'s deal to sell its assets in Russia to a consortium of Russian investors worth 475 billion rubles ($5.21 billion).

"Yandex is one of the national champions in the economy in its field, in the field of high technology, one of the largest companies. For us, of course, it is important to continue the work of this company in our country," the official said.