Moscow: Russia on Wednesday criticized the European Commission's plan to transfer £2 billion ($2.3 billion) to Ukraine from proceeds of frozen Russian assets, warning it would undermine global confidence in property rights. 'These are additional steps toward, probably, the complete destruction of trust in the principle of the inviolability of property,' Kremlin spokesperson Dmitry Peskov told reporters, responding to European Commission President Ursula von der Leyen's announcement that the EU would fund Ukraine's drone production with the assets.

According to Anadolu Agency, von der Leyen earlier said that the bloc had agreed with Kyiv to allocate approximately £2 billion for drones using revenues from the immobilized Russian assets. The EU previously decided to channel profits from frozen Russian sovereign funds to support Ukraine's defense industry, despite Moscow's repeated objections.

Peskov warned that the move would seriously impact countries that are main depositories and are interested in investment attractiveness. The Kremlin's response highlights the tension between Russia and the European Union over the use of frozen assets, which Moscow views as a violation of property rights.