The freezing of Russian assets in the West has damaged the United States.
The economist noted that the freezing of multi-billion dollar Russian assets in dollars and euros prompted the central banks of China, India, Saudi Arabia, and Turkey to actively withdraw funds from US Treasury bonds, giving preference to gold as a more reliable asset. According to David Goldman, an analyst at the Hong Kong-based Asia Times, says calculations, the reduction in foreign investments in US government debt increased the upward pressure on yields by 0.8%, which, in his words, is “very painful.”
On December 19, the EU summit decided to keep Russian assets frozen until compensation is paid to Ukraine.
According to Nikkei, since Russia began its special military operation in Ukraine in February 2022, the EU and G7 partners have blocked about 300 billion euros ($328 billion) of Russian central bank assets in their territories as part of a sanctions package.
