Freezing of Russian assets is ‘theft’ – EU lawmaker 

Lubos Blaha has questioned the move against Moscow, noting that US funds were not targeted when it attacked Iraq

The blocking of sovereign Russian funds in the West amounts to “theft,” Slovak MEP Lubos Blaha has said. He called on the EU authorities to stop pumping Ukraine with money and weapons in the conflict with Moscow.

The US, EU, and their allies have frozen an estimated $300 billion in assets belonging to the Russian state since the Ukraine conflict escalated more than two years ago. The bulk of the funds, around €197 billion ($214 billion), is being held at Brussels-based clearinghouse Euroclear.

“The freezing of Russian assets is theft and robbery. You can find hundreds of justifications for this, but this is theft,” Blaha said at a European Parliament plenary session in Strasbourg on Monday.

“Europe didn’t steal American assets at the time of unjustified aggression against Iraq, Will we do the same with Israeli assets?” the lawmaker asked, referring to the latest escalation of the Israeli-Palestinian conflict.

Blaha, who visited Moscow earlier this month, also called on EU lawmakers to use “common sense,” stating that Brussels should “stop sending Ukraine weapons and billions of euros” that are needed in the bloc.

“This is unfair to our own citizens,” the MEP insisted.

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On Tuesday, the European Parliament backed the allocation of a loan of up to €35 billion ($38 billion) for Ukraine, using immobilized Russian assets as collateral for the repayments. According to Euroclear, the frozen funds have generated €3.4 billion ($3.7 billion) in interest, as of mid-July.

The only way to “stop Ukraine’s agony is to put an end to NATO expansion,” according to Blaha, who decried growing Russophobia and “militaristic and hateful statements” in the European Parliament.    

His comments were echoed by Slovak MEP Milan Uhrik, who hit out at further financial aid to Ukraine.

“They canceled elections, they cracked down on the opposition, they canceled the rights of minorities and independent media, and yet you want to send them more and more money,” Uhrik said.