Western assets in Russia: Kremlin threatens fiscal retaliation
Russia’s RIA state news agency says the West stands to lose assets worth at least 288 billion dollars, if frozen Russian assets are confiscated.
After Moscow invaded Ukraine, the US and its allies blocked around 300 billion dollars’ worth of assets.
Now some western powers have floated the idea of using confiscated holdings to rebuild Ukraine once the war has finally ended.
But Russia reaffirmed on Sunday that counter-measures could follow what it calls "western thievery".
According to the RIA, the top investors in the Russian economy include Cyprus, with more than 98 billion dollars, the Netherlands with 50 billion and the UK with nearly 19 billion.
It also reports that Germany has 17 billion dollars invested, France 16 billion dollars and Italy almost 13 billion.
Frances Coppola is an Economist and Bank Commentator.
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