Russia Warns it’s Ready to Retaliate if the West Seizes Frozen Assets

Ukraine war live updates: Russia warns it’s ready to retaliate if the West seizes frozen assets, says Europe will be hurt most

A close ally of Russian President Vladimir Putin, Valentina Matviyenko, warned on Tuesday that Russia is prepared to retaliate if Western countries seize around $300 billion of frozen Russian assets to aid Ukraine.

Russia Warns it’s Ready to Retaliate if the West Seizes Frozen Assets

Matviyenko, who is the speaker of the Russian upper house of parliament and a member of Russia's Security Council, told state news agency RIA Novosti that there will be "a very tough response" and an "adequate response" from Russia if such measures are taken. She added that a draft law on response measures has already been prepared, but did not specify what the retaliatory measures would be. However, she noted that Europe "will lose more than we do."

Western officials are still undecided on the controversial proposal to seize frozen Russian assets abroad, according to a Russian lawmaker. The majority of these assets, around $224 billion, are in the European Union, while only $5 to $6 billion worth of assets are in the United States.

Ukraine’s Zelenskyy thanks Denmark and Britain for military support

Ukraine’s Zelenskyy thanks Denmark and Britain for military support Ukrainian President. Volodymyr Zelenskyy on Tuesday thanked the Danish and British governments for their support amid Russia’s onslaught.

Ukraine’s Zelenskyy thanks Denmark and Britain for military support

His comments come shortly after the U.S. House of Representatives approved sending $60.8 billion in foreign aid to Ukraine. The long-awaited bill is now expected to be passed by the Senate before being signed into law by U.S. President Joe Biden.

In a post published on social media platform X, Zelenskyy thanked the Danish government and people “for their support of Ukraine since the beginning of Russia’s full-scale invasion.”

“We are counting on Denmark’s assistance in finding additional air defense systems for the Mykolaiv region,” he added.

In a separate post, Zelenskyy said he was grateful to the U.K. for providing Storm Shadow long-range missiles, hundreds of armored vehicles and much needed ammunition.

“I am grateful to the UK and personally to Prime Minister [Rishi] Sunak for such a strong demonstration of support and for the willingness to further develop our defense cooperation, especially with an emphasis on maritime and long-range capabilities,” Zelenskyy said.

Russia’s Orsk refinery resumes operations after flooding, sources say

The Orsk oil refinery in Russia resumed full operations early on Tuesday, after being forced to suspend operations for two weeks due to flooding in the region, according to two sources who spoke to Reuters.

Russia’s Orsk Refinery

The refinery, operated by Forteinvest, had declared force majeure on April 8 and was expected to start fuel production on April 19. Floods caused by the bursting of Europe's third-longest river had engulfed cities and towns across Russia and Kazakhstan, forcing about 110,000 people to evacuate and swamping parts of the Russian city of Orenburg.

Forteinvest declined to comment on the resumption of operations. The refinery had been shut down to avoid environmental risks and ensure labor safety. In 2021, the refinery processed 4.5 million metric tons (90,000 barrels per day) of oil.

One source said that Forteinvest will prioritize supplying fuel to fulfill required sales via the Saint-Petersburg Exchange for the domestic market, and then under export contracts.