Russian Foreign Minister Sergei Lavrov addresses a press conference in Moscow. (Photo: AFP/VNA)

Lavrov said any endeavor to mitigate the risk of conflict must be comprehensive and should involve the abandonment of what Russia views as the central issue — the expansion of NATO to the East.

Kremlin spokesman Dmitry Peskov said Monday that any attempt by the US to freeze Russian assets would be unlawful and set a dangerous precedent, leading to legal action, with Moscow prepared to respond accordingly.

The US House of Representatives passed a package of military aid for Ukraine on Saturday which includes confiscating frozen Russian assets for transfer to a special fund for Kiev. The G7 is considering using approximately 300 billion USD worth of Russian assets frozen in the West to support Ukraine.

Vyacheslav Volodin, Chairman of the State Duma (House of Representatives) of Russia, said Monday that, following the US's passage of a bill to confiscate Russian assets, Moscow now has a basis to confiscate Western assets.