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Moscow denounces ‘theft’ as EU uses frozen Russian funds to help Ukraine

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Moscow on Tuesday again threatened retaliation over a European Union move to use interest on frozen Russian assets to finance military aid to Ukraine.

Kremlin spokesman Dmitry Peskov called the EU decision, announced in late June, “theft.”

He also called it a “direct violation of international law” and “property rights” and called for the prosecution of EU decision-makers.

The EU measure aims to raise €1.4 billion ($1.5 billion) in military aid for Kiev from the proceeds of frozen Russian Central Bank assets.

The first installment payments will be made at the beginning of August.

The money will be provided to EU member states such as Germany and the Czech Republic, which will then supply Ukraine with equipment such as air defence systems and artillery shells.

Another €1 billion in interest income will follow by the end of the year.

“These funds are not only effectively stolen, they are also spent on purchasing weapons. It is difficult to think of anything worse,” Peskov said.

Russia has repeatedly criticized Western support for Kiev since the February 2022 invasion.

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