Siluanov allowed a mirror response to the use of blocked assets of the Russian Federation
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Finance Minister Anton Siluanov said that the Russian authorities may respond in a mirror way to the use by unfriendly countries of income received from investing frozen assets of the Russian Federation.
“We also have frozen the money that is due on our bonds, obligations to partners of unfriendly countries, and they are also frozen. Then we will also do the same,” the minister said in an interview Bloomberg.
Mr. Siluanov emphasized that the confiscation of Russian gold and foreign exchange reserves undermined trust in Western institutions. According to him, the use of money from frozen Russian assets “is on the conscience of our partners.”
European Commissioner for Justice Didier Reynders said on July 3 that the amount of frozen Russian assets in Europe is €207 billion. The US Treasury Department in June 2022 reported $300 billion of frozen Russian assets. According to the international depository Euroclear, in the first half of 2023, profit from investing in blocked Russian assets amounted to €1.743 billion.
According to the Bank of Russia, the total amount of funds in type C accounts intended for storing frozen assets of unfriendly countries at the beginning of November 2022 exceeded 280 billion rubles. By the end of 2022, according to Interfax, the figure was close to 600 billion rubles.
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