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

by The Kyiv Independent news desk May 25, 2023 6:27 PM 1 min read
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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.

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