Kremlin threatens EU with revenge for decision to allocate proceeds of Russian frozen assets to Ukraine

Dmitry Peskov, the spokesperson for the Kremlin leader, called the EU's intention to use the first tranche of proceeds from Russian frozen assets to buy weapons for Ukraine a "theft" and threatened with a "proportionate response".

As reported by Kremlin-aligned Russian news agency RIA Novosti, Peskov commented on the statement of Josep Borrell, EU Chief Diplomat, that the EU will allocate the first tranche of proceeds from Russian frozen assets to purchase weapons for Ukraine in early August.

"There will undoubtedly be some kind of response one way or another. Such thievery cannot be left without steps in response," Peskov said.

Borrell said that the first €1.4 billion of proceeds from Russian frozen assets should become available in July, and another €1 billion by the end of 2024.

The funds will be used to purchase priority military equipment for Ukraine.