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2023-02-10 Caucasus/Russia/Central Asia
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EU confirmed that they do not know where the frozen assets of the Central Bank of Russia are located
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Direct Translation via Google Translate. Edited.
[REGNUM] The European Union does not know where the assets of the Central Bank of Russia are located, and therefore cannot transfer them to Kyiv
The location of 86% of the frozen assets of the Central Bank (CB) of Russia is not known to anyone, so the EU has no way to transfer them to Kyiv. This was reported on February 9 by Bloomberg.
According to the agency, in a document prepared for EU leaders for a summit with the participation of Ukrainian President Volodymyr Zelensky, the EU legal service actually confirmed that it does not know the location of 86% of the frozen assets of the Central Bank of Russia. The total amount of assets is estimated at $258 billion, of which no more than $36.4 billion has been located to date.
According to the legal service of the EU, in order to transfer Russian assets to Kyiv, they must first be found. But first, the EU authorities need to figure out what specific amount of assets of the Central Bank of Russia and other state structures was frozen in the EU, including commercial banks. The financial feasibility of transferring the frozen funds from Russia to Kyiv will depend directly on how much of the funds will eventually be found.
The legal service recommended that the EU in the current situation "work with the G7 and the EU's international partners" to search for the bulk of the frozen Russian gold and foreign exchange reserves.
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Posted by badanov 2023-02-10 00:00||
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Posted by Procopius2k 2023-02-10 08:33||
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Posted by M. Murcek 2023-02-10 13:13||
2023-02-10 13:13||
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