Russia has threatened to take a tit-for-tat response after the United States Congress passed legislation that would allow the transfer of confiscated Russian assets for Ukraines reconstruction.The United States House of Representatives on Saturday approved long-delayed military aid to Ukraine that also contains provisions for the Biden administration to sell confiscated Russian assets and hand the proceeds to Kyiv to finance its reconstruction after Moscows devastating invasion.Kremlin spokesman Dmitry Peskov slammed the potential United States move as nothing less than the demolition of all the foundations of the economic system and an attack on state property, state assets and private property.This cant be perceived as anything other than illegal actions and, accordingly, they will be subject to retaliatory actions and legal proceedings, Peskov told reporters during a daily briefing.State Duma Speaker Vyacheslav Volodinsaid earlier Monday that Russian lawmakers could now pass symmetrical legislation to allow Moscow to seize Western assets in the country.Volodin claimed that the United States bill was designed to provoke the European Union to take similar steps, though other G7 nations have embraced the idea of confiscating Russian assets.
He claimed that similar EU legislation will be devastating for the European economybecause the United States holds up to $6 billion and the EU holds 210 billion euros ($224 billion) of the $280 billion in Russian assets frozen abroad.Peskov previously told reporters that passage of Washington's $61 billion aid bill would further enrich the United States and ruin Ukraine even more by killing even more Ukrainians.United States President Joe Biden and Ukrainian President Volodymyr Zelensky have welcomed the latest aid package, which had been delayed for months.The United States Senate is scheduled to take up the bill on Tuesday.The United States has been the chief military backer of Ukraine in its war against Russia, but Congress has not approved large-scale funding for its ally for nearly a year and a half, mainly because of cross-aisle bickering.AFP contributed reporting.