Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) and special presidential representative for investment and economic cooperation with foreign countries, declared on December 15 that Russia will challenge the European Union’s freezing of reserves and that Europe will have to pay Ukraine’s bills.
In a statement, Dmitriev accused “panicked EU bureaucrats” of making critical errors by using Russian reserves without the consent of the Bank of Russia. He argued such actions are illegal and undermine the reserve system created by the United States, thereby increasing costs for everyone. Dmitriev stated that Russia will win in court and return them, with the EU guarantors paying Ukraine’s bills. He warned that the EU, the euro, and Euroclear would suffer as a result.
