MOSCOW (Reuters) – The Kremlin on Friday said Western banks’ legal departments understand the “catastrophic consequences” that would follow should the EU proceed with plans to confiscate Russian assets. Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it […]
The Russian authorities see no real possibility of preventing the confiscation of US$300 billion of Russian foreign exchange reserves frozen by Western countries after the full-scale invasion of Ukraine. Source: Reuters with reference to four sources close to the Kremlin Details: The sources described the mood prevailing in the Russian government and the Central Bank. […]
The West is open to seizing US$300 billion in Russian assets in order to support Ukraine, but it has to first determine the correct legal procedures. However, even after it is developed, it will not become a panacea for Kyiv. Source: Reuters with reference to the statements of high-ranking officials from the USA and EU […]