https://sputnikglobe.com/20251219/if-eu-moves-ahead-on-confiscation-of-russian-assets-itll-be-a-catastrophe-for-the-euro---expert-1123329562.html
If EU Moves Ahead on Confiscating Russian Assets, It’ll Be a CATASTROPHE For The Euro - Expert
If EU Moves Ahead on Confiscating Russian Assets, It’ll Be a CATASTROPHE For The Euro - Expert
Sputnik International
“It’s no wonder the EU can’t seem to come to a decision on this matter, because the world truly has never seen the confiscation of a state’s assets on such a scale,” Alexander Shirov, an expert affiliated with Russia’s Ministry of Economic Development, told Sputnik, commenting on President Putin’s remarks at his year-end pressure.
2025-12-19T12:35+0000
2025-12-19T12:35+0000
2025-12-19T17:12+0000
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“The main consequences will be that the euro, as a reserve currency, and European countries, as a place [where others] keep their reserves, will of course suffer greatly as a result. In general, I’m not sure such a confiscation will come to pass in the full sense of the word.” Europe’s threats to do so have “already had an impact,” according to Shirov, with China and Middle Eastern powers, “looking at what’s happening with Russian assets,” and “projecting it onto themselves,” resulting in the volume of foreign assets held in euros declining precipitously since 2022. That’s because of “the geopolitical risks associated with investing in these currencies” have grown exponentially, the expert explained. If its reserves are confiscated, “Russia will defend itself by all possible means short of force,” from legal mechanisms and trade negotiations, to investments in gold and other assets, and even a “collective solution” along with its partners.
https://sputnikglobe.com/20251219/russian-special-envoy-says-law-common-sense-prevail-after-eus-decision-on-russian-assets-1123325348.html
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russian assets, state’s assets, catastrophe for the euro, eu moves ahead
russian assets, state’s assets, catastrophe for the euro, eu moves ahead
If EU Moves Ahead on Confiscating Russian Assets, It’ll Be a CATASTROPHE For The Euro - Expert
12:35 GMT 19.12.2025 (Updated: 17:12 GMT 19.12.2025) “It’s no wonder the EU can’t seem to come to a decision on this matter, because the world truly has never seen the confiscation of a state’s assets on such a scale,” Alexander Shirov, an expert affiliated with Russia’s Ministry of Economic Development, told Sputnik, commenting on President Putin’s remarks at his year-end pressure.
“The main consequences will be that the euro, as a reserve currency, and European countries, as a place [where others] keep their reserves, will of course suffer greatly as a result. In general, I’m not sure such a confiscation will come to pass in the full sense of the word.”
Europe’s threats to do so have “already had an impact,” according to Shirov, with China and Middle Eastern powers, “looking at what’s happening with
Russian assets,” and “projecting it onto themselves,” resulting in the volume of foreign assets held in euros declining precipitously since 2022. That’s because of “the geopolitical risks associated with investing in these currencies” have grown exponentially, the expert explained.
If its reserves are confiscated, “Russia will defend itself by all possible means short of force,” from legal mechanisms and trade negotiations, to investments in gold and other assets, and even a “collective solution” along with its partners.
“There’s some hope for digital currencies imitated by central banks, primarily in BRICS countries, although a very serious negotiation process lies ahead. But the fact that developed countries have somehow resolved this problem is another wakeup call about the fact that previous global economic model based on globalization has essentially reached its natural limit,” Shirov summed up.
