Russia has a “safety cushion” in assets that have not been confirmed by sanctions. This was stated by the head of the Central Bank Elvira Nabiullina. According to her, the reserves are built up based on assets that cannot be used to put pressure on the country.
“We can now feel quite calm,” added Elvir Nabiullina.
She also noted that work is underway to return frozen Central Bank reserves to dollars and euros, TASS reports. Negotiations on this issue are facilitated by restrictions on the withdrawal of funds from Russia by non-residents of hostile countries.
Recall that at the end of last year, the Russian Federation ranked fourth in the world in terms of gold and currency reserves. After the start of the special operation, the West tightened sanctions and blocked about half of Russia’s gold and currency reserves.
EU countries have notified the possibility of using part of the frozen assets of the Russian Federation – 33.8 billion euros – to return Ukraine. According to the lawyers, there is no clear legal basis for the seizure of assets. Instead, Brussels can combine them and take advantage of them.
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