"If this happens, if such a dangerous precedent is created, it will be such a solid nail in the future coffin of the entire Western economic system of coordinates," Peskov said in an interview with Pavel Zarubin, a journalist from the program 'Moscow. Kremlin. Putin' on Rossiya 1 TV channel.
Peskov, Russian President Vladimir Putin's press secretary, also stated that foreign investors and countries around the globe will reconsider investing their money in the West if it goes ahead with the asset seizure sanctioned by the US Congress this week.
"Of course, foreign investors, foreign states that keep their reserves in the assets of these countries, from now on will think ten times before investing their money," Peskov said. "Reliability disappears overnight, because of one thoughtless decision. It is restored [only after] decades, or even more."
He said it was to soon to talk about Russia's response in the event of the West seizing Russian assets, but noted that there was also Western property in Russia.
"It is premature to talk about this," Peskov said. "Of course, there is Western money here. We have Western money of various structures. Now is not the time to specify."
However, he stressed that in the event of the seizure of frozen Russian assets in the West, Russia would take legal action and other steps.
"Of course, such decisions will have very broad judicial perspectives. And, of course, Russia will use these judicial perspectives and will endlessly defend its interests in this field," Peskov said.
"Panic Rising in Kiev"
Turning to the Ukraine conflict, Peskov said that panic was growing in Kiev as Russian forces continued to advance.
"There is a growing panic in Ukraine on the fronts," the spokesman said, adding that it is important for Russia not to halt the special military operation.
Friends and relatives of those fighting in the operation share news about the low morale of the Ukrainian army, he added.
"This is first-hand information. Panic is growing on the other side. It is now very important for us to maintain this momentum. It is very important not to stop and to keep on the path of implementation," Peskov said.
At the same time, the "enemies" will definitely test Russia "for weakness" and what matters the most is to never show it, Peskov added.
Russia launched its special military operation in Ukraine in February 2022. Russian President Vladimir Putin said that the goal of the operation was to protect people who had been subjected to Kiev's regime "mockery and genocide" for eight years, adding that Moscow was left with no other choice but to respond to the security risks created.