Statement on the decision by the EU to use profits from Russian assets

On May 22, 2024, the European Union has formally adopted a plan to use windfall profits from the Russian Central Bank assets frozen in the EU for the purpose of military support of Zelensky’s regime in Kiev. The Irish government has signed up for this unprecedented and illegal decision, which has nothing to do with the norms of international law and even so-called “rules based order”, hailed by Ireland. It should be clear that by doing so Ireland has become an accomplice in an outright theft, proving to be a participant in the West’s hybrid war against Russia. What had begun with EU sanctions and freezing of the Russian state assets is now a full scale robbery in a broad daylight, similar to what the West has previously done to other countries, which were deemed as “hostile” to Washington or Brussels.

Apart from being an illegal expropriation, which clearly goes against the spirit and the letter of the law, it shows how unpredictable and untrustworthy the European financial institutions are. That is going to increase the already started process of the withdrawal of funds by foreign investors, inevitably leading to a further economic decline of the EU, as well as to other negative consequences for European and global economy.

The responsibility for this criminal behavior lies upon all partakers – Ireland included – who should be prepared to take responsibility for their actions. Since Russia regards the seizure of revenue from its frozen sovereign assets in the European Union as an economic aggression in clear violation of all legal norms and a hostile political act, the response is inevitable and it will come in the form that best suits Russia’s interests.