Greece Questions Legal Basis for Seizing Russian Assets as Russia’s Duma Moves on Retaliation Plan

Overview

• Greek foreign ministry spokesperson Lana Zohiu said the proposal to confiscate frozen Russian assets lacks an adequate legal foundation and needs thorough political, legal, and economic review.
• The State Duma’s Budget and Taxes Committee submitted a draft resolution urging the Russian government and the Bank of Russia to prepare a joint plan of countermeasures if the EU proceeds with seizure.
• Duma Chairman Vyacheslav Volodin said the chamber will consider an appeal to the government on November 20 to develop retaliatory steps tied to any EU decision on Russian assets.
• Roughly €200 billion of Russia’s sovereign reserves remain blocked at Euroclear in Belgium, representing the bulk of the frozen funds within the EU.
• Greece’s economy minister said the EU lacks an alternative funding plan for Ukraine if Belgium refuses to allow use of the frozen assets, reflecting ongoing divisions and risk concerns after leaders failed to reach agreement in late October.