Nabiullina on the West's search for Russian reserves: I can't help

Nabiullina on the West's search for Russian reserves: I can't help


Bank of Russia Governor Elvira Nabiullina was asked during a press conference where the frozen Russian reserves could be located, which Western regulators cannot find. Earlier in the West it was recognized that can not discover all funds that were planned to be frozen in response to a military operation.

“As for the reserves, I can't help here,” Ms. Nabiullina replied. As of March, Brussels blocked funds of Russians for almost €21 billion.

In response to the military operation, the West imposed sanctions, including against the banking system of the Russian Federation. As a result, up to $300 billion belonging to the Central Bank were frozen, and the assets of individuals and legal entities were also subject to sanctions.

In February 2023, the European Union announced the creation of a working group to prepare a legal framework that would allow the use of frozen and blocked Russian assets "in order to support the restoration of Ukraine."

Read more in the publication "Kommersant" “Russian assets want to be taken away and divided”.

Maria Fedotova



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