Biden agrees to seize Russian assets worth $300 billion. Russia will respond

The decision of the Biden administration to support the seizure of frozen Russian assets worth about $300 billion will lead to extensive consequences, Kremlin official spokesman Dmitry Peskov said.

It goes about a very provocative statement that announced a possibility of illegal actions that would be taken in relation to the Russian assets. Washington did not notify Moscow about the possible confiscation of assets, Peskov said adding that there were practically no channels of communication left with the American side.

By supporting the decision to confiscate assets, the United States is trying to put pressure on the European states as most of the Russian assets are located in Europe but not in the United States.

If the Europeans follow the lead of the American side, they will inevitably face heavy losses, fines and other legal consequences, Peskov noted.

Andrei Klimov, Deputy Chairman of the Federation Council Committee on International Affairs, said that Washington's decision to confiscate the Russian assets may cause the American financial empire to collapse.

"The Americans are not in a rush because they understand that they may trigger the domino effect after this. They may compromise the dollar," Klimov said.

If the USA decides to seize the Russian assets, Russia will respond accordingly. For example, Russia may freeze assets that belong to Western companies, Alexei Chepa, First Deputy Chairman of the State Duma Committee on International Affairs said.

The Biden administration supported the confiscation of frozen Russian assets worth $300 billion to subsequently use them for the restoration of Ukraine, Bloomberg said.