The ministry said in a statement that transactions related to the management of assets and reserves of the Central Bank of Russia have been prohibited for a month due to the war in Ukraine, adding that “the assets of the bank have been frozen” .
In February, Swiss authorities deemed it unconstitutional to permanently confiscate the assets of sanctioned Russians held inside the country, in response to Western proposals to use confiscated funds to rebuild Ukraine.
The Russian Finance Ministry had previously estimated the size of assets frozen by the West at $300 billion to $350 billion, or about half of Russia’s gold and currency reserves.
For his part, EU justice commissioner Didier Reynders said in October last year that Brussels had frozen Russian assets worth $19.1 billion, including bank accounts, property real estate, yachts and other luxury goods for 1,350 Russian citizens and businesses under European jurisdiction. sanctions, or more than $7.7 billion for the amount of money confiscated in May of the same year.
In response to the freezing of Russian assets in the West, Russian President Vladimir Putin signed a decree last April to seize foreign assets in Russia, and approved the list of foreign assets that have been placed under the management Temporary Russian Agency for Property Management, which is 83.7 percent of the shares of the Russian company “Uniper”. Owned by the German company “Uniper” and 98 percent of the shares of the Russian “Fortum” owned by the Finnish company.
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