News Feed

Bloomberg: EU has frozen Russian Central Bank assets worth over $200 billion

1 min read

The European Union has frozen 200 billion euros worth ($214.6 billion) of Russian Central Bank assets since the start of Russia's full-scale war, Bloomberg reported on May 25, citing European Commission spokesperson Christian Wigand.

The EU reported the number after releasing its 10th sanctions package, adopted in February, forced banks to reveal information on the size of their holdings.

The EU has also frozen 24.1 billion euros ($25.8 million) of sanctioned Russian entities and individuals.

The Financial Times reported on May 24 that EU officials are currently discussing a way to send profits from Russian assets, frozen at the central securities depository Euroclear, to Ukraine. This would not amount to expropriation but rather to an escalation of the financial pressure against Russia.

The frozen assets are generating cash from coupons and redemptions. The cash is then reinvested by Euroclar.

It is the profits from these reinvestments that the EU considers providing to Ukraine.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

The Votkinsk Plant is a strategic, state-owned defense enterprise and one of the most important missile factories in Russia. It produces Iskander ballistic missiles — used in attacks against Ukraine — and nuclear-armed intercontinental ballistic missiles.

 (Updated:  )

Russian President Vladimir Putin signed a law on Feb. 20, framed by authorities as a measure to counter security threats and potential attacks, granting Russia’s Federal Security Service (FSB) broad authority to order the disconnection of individuals from mobile and home internet services.

Show More