"Debate Intensifies Over Seizing Russian Assets to Finance Ukraine's Defense"

The Kremlin has warned that it will seize Western assets if G7 countries confiscate $300 billion in frozen Russian central bank reserves. The G7 is considering a new legal theory to enable the seizure of these assets, which were frozen after Russia's invasion of Ukraine. Kremlin spokesman Dmitry Peskov called the potential confiscation "theft" and a threat to the global financial system. Russia has a list of Western assets to target in retaliation but has not disclosed specifics. The legality of such asset seizures is contested, and some countries would need legislative changes to proceed.