Russia's upper house of parliament has asked the Ministry of Justice to draw up a law that would impose retaliatory measures on the West if it moves against frozen Russian assets, the TASS sttae news agency reported on Wednesday.

The Financial Times reported on Feb. 3 that the G7 had drawn up plans to use frozen Russian assets as collateral to raise money to help Ukraine.

The Kremlin on Monday warned the West that any attempt to use frozen Russian assets in such a way would be illegal and undermine the global financial system. (Reporting by Reuters Editing by Andrew Osborn)