Deputy Chairman of the Russian Security Council Dmitry Medvedev made a sharp statement addressed to the European Union, warning that any attempt to confiscate frozen Russian assets to help Ukraine could be regarded as a “special casus belli” – a reason for war. In a post on his Telegram channel, Medvedev did not rule out that, in the event of an escalation, Europe would be forced to pay Moscow “reparations in kind.” This statement came amid discussions in the EU on how to use some €300 billion in Russian reserves that were frozen after the start of the full-scale invasion of Ukraine.
Medvedev’s statement appeared on the evening of December 3, immediately after discussions about a “reparation loan” for Kiev intensified in Brussels and Washington. “If the insane European Union tries to steal Russian assets blocked in Belgium by issuing a so-called reparations loan, such actions could be classified under international law as a special casus belli with all the consequences that would entail for Brussels and individual EU countries,” Medvedev wrote. He added that the return of funds could take place “not through the courts, but through real reparations paid in kind by Russia’s overthrown enemies.”
Experts note that the Kremlin’s rhetoric is escalating amid Russia’s financial difficulties: sanctions have frozen a significant portion of its gold and foreign exchange reserves, and the economy is increasingly dependent on military spending (about 8% of GDP in 2025). Using assets for Ukraine is not only a symbolic blow, but also real help for Kyiv in the amount of up to €50 billion annually, which could cover the country’s budget deficit.
The European Union responded harshly. EU High Representative for Foreign Affairs Josep Borrell called Medvedev’s words “another attempt at intimidation,” stressing that the use of assets is “a legitimate mechanism for reparations for the destruction in Ukraine.” Belgium, where the lion’s share of frozen funds (about €200 billion) is held, has proposed an alternative – a “classic loan” without confiscation – but discussions are ongoing. Ukrainian President Volodymyr Zelensky wrote on Telegram: “Threats will not stop us. The money is reparations for a crime, not ‘theft’.”
Medvedev’s statement is not just rhetoric, but a signal: the Kremlin sees the assets as a “red line.” If the EU approves the confiscation (a decision is expected at the summit in December), Russia may respond asymmetrically – from cyberattacks to new strikes on Ukrainian infrastructure. However, analysts doubt the reality of a full-scale war: the Russian economy is overheated, and NATO is strengthening its flank.