Russia’s Foreign Ministry claims calls to seize frozen Russian central bank funds align with “English traditions.”
Moscow has accused London of “piracy” after former UK Prime Minister Rishi Sunak urged the seizure of Russian assets frozen in the West due to sanctions related to Ukraine.
Foreign Ministry spokeswoman Maria Zakharova, in a social media post on Sunday, compared Sunak’s stance to historical piracy.
“This is part of English tradition, like tea and horse racing. Historically, England legalized piracy, prohibiting attacks on English ships but allowing the plundering of rival vessels,” Zakharova stated on Telegram.
Zakharova’s remarks followed Sunak’s post on X, where he asserted that “Now is the time to seize [the Russian assets] and make Russia pay.”
Sunak referred to approximately $300 billion in Russian central bank assets immobilized by Western sanctions since 2022, primarily EU, US, and British government bonds held in a Brussels-based securities depository.
“If we don’t act, [the assets] could be handed back to Moscow to fund Putin’s next war,” Sunak wrote.
The UK has consistently advocated for the seizure of frozen Russian assets. Last month, Foreign Secretary David Lammy suggested Europe should move from freezing to seizing Russian assets.
Earlier this month, the UK agreed to provide Ukraine with a $2.84 billion loan backed by income generated from these assets. Moscow condemned this as a violation of international law and warned that the money would have to be returned.
The EU’s economic sanctions against Russia are up for renewal every six months, with the next extension scheduled for July.
The US initiated peace negotiations for Ukraine last month, with President Donald Trump suggesting sanctions against Moscow could be lifted upon reaching a settlement. Hungary has also repeatedly threatened to veto the renewal of EU sanctions against Russia, potentially leading to the release and return of the assets to Moscow.
Last week, the European Parliament urged EU member states, in cooperation with G7 partners, to “immediately seize all frozen Russian assets” to continue funding Kiev.
Moscow has consistently denounced the asset freeze as “theft,” and the Kremlin has cautioned of consequences if Western countries proceed with confiscation.