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Can the West still force Russia away from Ukraine? Moscow warns 'illegal' EU sanctions would backfire.
The Business Guardian
|June 30, 2025
The Kremlin on Sunday warned the European Union (EU) that ramping up "illegal" sanctions on Russia would backfire on its own economies.
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This comes amid Russian President Vladimir Putin's comments on Thursday that Moscow was "ready" to part with roughly $300 billion in frozen assets (mostly held in the EU) if it meant speeding up the shift away from Western-dominated financial systems.
ALSO READ | Vladimir Putin 'ready' to part with frozen $300 billion assets to undermine Western financial power The suspension of the assets are a part of the EU's punitive sanctions intended to stop Russia's aggression on Ukraine, making Moscow one of the most sanctioned economies in the world, as per a Reuters report.
"The more serious the package of sanctions, which, I repeat, we consider illegal, the more serious will be the recoil from a gun to the shoulder. This is a double-edged sword," Kremlin spokesperson Dmitry Peskov told state television, the report added.
In one of its biggest offensives since the beginning of the conflict, Moscow on Sunday fired a total of 537 aerial weapons at Ukraine, including 477 drones and decoys and 60 missiles.
This story is from the June 30, 2025 edition of The Business Guardian.
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