Russia warns West of consequences of asset confiscation

Russia will respond to any attempts by Western countries to confiscate Russian property and assets abroad, the Russian Foreign Ministry said on Sunday, reported Xinhua.

"We have spoken more than once about the illegitimacy of unilateral coercive measures taken by Western countries in relation to Russian property abroad. We have repeatedly noted that the seizure of property of the Russian Federation is unlawful and violates the fundamental principles and norms of international law, including the sovereign equality of states," the ministry said, quoted by Russia's RIA Novosti.

The ministry added that such actions are "a blatant encroachment on sovereign real estate and banal, outright theft by one group of states of the property of another."

"At the same time, the countries of the 'collective West' can be sure that any of their attempts to confiscate Russian real estate, as well as other assets, will inevitably entail an adequate and effective response," the ministry said.