The European Union has transferred €4 billion ($4.7 billion) to Ukraine using frozen Russian assets, sparking fiery threats from Moscow. Ukraine’s Finance Ministry confirmed the move Wednesday, calling it a critical step to support its war-torn economy. But the Kremlin isn’t holding back: spokesperson Dmitry Peskov labeled the action “theft” and vowed legal retaliation against those involved. 💥
Moscow’s Red Line
Russia warned it would pursue “any individual or country” involved in seizing its assets, claiming such moves could destabilize trust in the euro and Europe’s financial systems. Peskov doubled down: “They will all be called to account.” Meanwhile, the EU is pushing a €140 billion loan plan backed by frozen Russian funds, but not all member states are on board yet. 🤝💼
Eurozone Jitters
Belgium and ECB President Christine Lagarde fear long-term fallout. Lagarde warned confiscating state assets might scare countries away from holding euros, undermining its global reserve currency ambitions. Belgian PM Bart De Wever echoed concerns: “What if nations pull their reserves from the eurozone?” 🌍📉
Drones and Dollars
EU Commission President Ursula von der Leyen also announced €2 billion for drone supplies to Ukraine, part of the bloc’s €178 billion total aid since 2022. But with Russia’s $300 billion in frozen assets still in play, this financial chess game is far from over. 🛰️⚔️
