Putin Says West’s ‘Theft’ of Russia’s Assets Will Not Go Unpunished 

Russia's President Vladimir Putin attends a meeting with the leadership of the Russian foreign ministry in Moscow, Russia June 14, 2024. (Reuters)
Russia's President Vladimir Putin attends a meeting with the leadership of the Russian foreign ministry in Moscow, Russia June 14, 2024. (Reuters)
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Putin Says West’s ‘Theft’ of Russia’s Assets Will Not Go Unpunished 

Russia's President Vladimir Putin attends a meeting with the leadership of the Russian foreign ministry in Moscow, Russia June 14, 2024. (Reuters)
Russia's President Vladimir Putin attends a meeting with the leadership of the Russian foreign ministry in Moscow, Russia June 14, 2024. (Reuters)

President Vladimir Putin said on Friday that plans by Western countries to provide Ukraine with loans using interest from Russian assets frozen abroad was theft and would not go unpunished. 

Putin, speaking at a meeting with Foreign Ministry officials, said the way the West had treated Moscow showed that any country could fall victim to a similar Western asset freeze. 

"Despite all the chicanery, theft will certainly remain theft. And it will not go unpunished", Putin said. 

"Now it is becoming obvious to all countries, companies (and) sovereign funds that their assets and reserves are far from safe in both the legal and economic sense of the word. 

"Anyone could be next in line for expropriation by the US and the West." 

Putin was speaking a day after the leaders of the Group of Seven major democracies agreed on an outline deal to provide $50 billion of loans for Ukraine using interest from Russian sovereign assets frozen after Moscow sent tens of thousands of troops into Ukraine in 2022 in what it called a special military operation. 



Erdogan Slams Protests over Jailing of Istanbul Mayor as ‘Movement of Violence’

Protestors holding Turkish flags stand in front of Turkish anti-riot police officers near the Aqueduct of Valens during a rally in support of Istanbul's arrested mayor in Istanbul, on March 24, 2025. (AFP)
Protestors holding Turkish flags stand in front of Turkish anti-riot police officers near the Aqueduct of Valens during a rally in support of Istanbul's arrested mayor in Istanbul, on March 24, 2025. (AFP)
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Erdogan Slams Protests over Jailing of Istanbul Mayor as ‘Movement of Violence’

Protestors holding Turkish flags stand in front of Turkish anti-riot police officers near the Aqueduct of Valens during a rally in support of Istanbul's arrested mayor in Istanbul, on March 24, 2025. (AFP)
Protestors holding Turkish flags stand in front of Turkish anti-riot police officers near the Aqueduct of Valens during a rally in support of Istanbul's arrested mayor in Istanbul, on March 24, 2025. (AFP)

Turkish President Recep Tayyip Erdogan said on Monday that protests over the jailing of Istanbul's mayor had become a "movement of violence" and that the main opposition party would be held accountable for injured police officers and damage to property.

The detention last Wednesday of Mayor Ekrem Imamoglu, Erdogan's main political rival, has triggered the biggest street protests in Türkiye in more than a decade. On Sunday, a court jailed him, pending trial, on corruption charges that he denies.

Imamoglu's opposition Republican People's Party (CHP) and its supporters say the charges against him are politically motivated and undemocratic, which Erdogan's government denies.

Despite a ban imposed on street gatherings in many cities, the mostly peaceful anti-government demonstrations continued for a fifth consecutive night on Sunday, with hundreds of thousands taking part and the CHP's leader, Ozgur Ozel, calling for the nationwide protests to continue.

Speaking after a cabinet meeting in Ankara, Erdogan said the CHP should stop "provoking" citizens.

"As a nation, we followed with surprise the events that emerged after the main opposition leader's call to take to the streets following an Istanbul-based corruption operation turned into a movement of violence," the 71-year-old president said.

"The main opposition is responsible for our (injured) police officers, the broken windows of our shopkeepers and the damaged public property. They will be held accountable for all this, politically in parliament and legally by the judiciary."

Earlier, Interior Minister Ali Yerlikaya accused some protesters of "terrorizing" the streets and threatening national security. He said 1,133 people had been detained during five days of protests and that 123 police officers had been injured.

A CHP delegation met Istanbul's governor to discuss the police crackdown on the protesters. The party's Istanbul head Ozgur Celik said the police actions on Sunday night had been the most violent so far, with many protesters being hospitalized.

JAILED 'FOR NO REASON'

Imamoglu, 54, was jailed pending trial on Sunday, as the CHP held a primary election to name him presidential candidate. Some 15 million votes were cast in support of the mayor.

News of Imamoglu's arrest covered the front pages of Turkish newspapers on Monday, with opposition media suggesting the mayor was arrested for being the most credible challenger to Erdogan.

The mayor's supporters said the jailing of Imamoglu demonstrated a lack of justice in Türkiye.

"I think there is an injustice committed against Imamoglu. They put the man in prison for no reason," said Adem Bali, a 22-year-old construction worker.

Erdogan, who has dominated Turkish politics for more than two decades and faces no immediate tests at the ballot box, said the events of the past few days showed that the CHP was not fit to run local municipalities, let alone the nation.

He also sought to reassure investors who last week sold off Turkish assets following news of Imamoglu's detention, sending stocks, bonds and the lira currency tumbling and prompting the central bank to intervene with foreign exchange sales and other stabilizing measures.

"Our main priority is protecting macrofinancial stability. The Treasury and finance ministry, central bank, all relevant institutions, with our support, are working day and night in full coordination, taking every necessary step," Erdogan said.

The Istanbul bourse benchmark index pared back some losses on Monday after suffering a fall of 16.6% last week, its worst drop since the global financial crisis in October 2008.

Analysts expect a prolonged period of political turmoil and uncertainty.

"The protests mark the most significant and widespread public reaction in over a decade, making the trajectory of events difficult to predict," said Wolfango Piccoli, co-president of Teneo consultancy.

"Once again, President Erdogan's political agenda has inflicted serious damage on Türkiye’s economic outlook."