The confiscation of Russian assets by G7 countries could cost them almost $83 billion in the amount of their investments in the Russian economy, Sputnik has calculated based on data from national statistical services.
According to the calculations, the volume of direct investments of G7 members in the Russian economy by the end of 2022 (there is currently no more recent data available) amounted to $82.8 billion.
The largest investor in the Russian economy was the United Kingdom, according to the latest available data, with assets estimated at $18.9 billion.
Next was Germany ($17.3 billion), France ($16.6 billion), and Italy ($12.9 billion). Investments of American companies in the Russian economy amounted to $9.6 billion; Japan and Canada invested $4.6 billion and $2.9 billion, respectively.
In a statement following the first day of their summit in Italy on Friday, the G7 countries formally confirmed their intention to provide Ukraine with about $50 billion in loans by the end of the year, to be repaid from the proceeds of frozen Russian assets.
The EU and G7 countries have frozen almost half of Russia's foreign currency reserves, about 300 billion euros, since the start of Russia's special military operation.
Russian President Vladimir Putin said that the seizure of Russian state assets by Western countries would not go unpunished.
The Russian Foreign Ministry called the freezing of assets in Europe theft. Foreign Minister Sergey Lavrov warned that Russia would respond if its reserves were confiscated. According to him, Moscow also has the option of not returning funds that Western countries have kept in Russia.