The prime ministers of China and Russia, Li Qiang and Mijal Mishustin, respectively, held a meeting in Moscow on Wednesday.

The parties reaffirmed the need to strictly comply with international commitments related to the immunity of states and their assets, including sovereign reserve currencies, as highlighted in the statement, which was published by the Sputnik news agency.

After the beginning of Russia’s special military operation in Ukraine on February 24th, 2022, the European Union and G7 members froze Russian assets worth about 300 billion euros, almost half of the country’s international reserves.

These assets include bank accounts, stocks, bonds, real estate and even luxury items in the hands of Russian entities and businessmen.

Proceeds from Russia’s frozen assets are used to benefit Ukraine, particularly as military aid.

Moscow criticized Western efforts to expropriate its assets, denouncing them as “a violation of international law” and the “biggest theft in history.”

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