Kremlin slams Western sanctions and asset freezes on Russian oligarchs as 'state banditry'

• Russia has accused the West of "state banditry" over sanctions slapped on wealthy Russians.
• "It is dangerous to do business there," Kremlin spokesman Dmitry Peskov said Wednesday.

Russia described the sanctioning of businesses and individuals in the country by Western nations as "state banditry," according to state media.

Kremlin spokesman Dmitry Peskov said on Wednesday that many Russian businessmen and their companies work internationally, adding that: "This is why the steps that the collective West has been taking against them can only be described as state banditry," according to Russian state news agency TASS.

Peskov said that the seizure of property from some Russians "distinctly shows the end of the nearly sacred principle of inviolability of private property and private businesses and makes it clear that it is dangerous to do business there," TASS reported.

Countries around the world have imposed heavy sanctions on Russian oligarchs in response to Putin's invasion of Ukraine, which has included the seizure of yachts and private jets from figures such as Roman Abramovich.

It comes amid wider sanctions that Western countries have put on Russia, including banning transactions with its central bank and blocking the trade of luxury goods.