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IMF issues warning about confiscating frozen Russian assets

Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF First Deputy Managing Director Gita Gopinath has warned in an interview with Foreign Policy magazine published on Monday.  The US and the EU have blocked an estimated $300 billion in assets belonging to the Russian …

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EU agrees to tap profits from frozen Russian assets

EU member states have reached an agreement that is expected to allow Brussels to transfer the income generated by Russia’s frozen central bank reserves to Kiev, according to an X (formerly Twitter) post on Monday by the Belgian presidency of the EU Council.  “EU Ambassadors just agreed in principle on …

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Zelensky comments on ‘frozen conflict’ perspective

The next generation of Ukrainians or their offspring may end up fighting if Ukraine’s conflict with Russia becomes ‘frozen’ at this stage, President Vladimir Zelensky has told a group of visiting journalists in Kiev. He also said his government is working to prevent such an outcome. The Ukrainian head of …

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RT France to close after accounts frozen

RT’s French subsidiary will cease broadcasting after its accounts were frozen by the French treasury, its director, Xenia Fedorova, announced on Saturday. Paris claimed that it froze the funds in line with EU sanctions, which targeted RT’s parent company. “After five years of harassment, the authorities in power have achieved …

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US urged to release frozen Afghan funds

Washington should release the assets of the Afghan Central Bank it froze last year after the Taliban takeover and return them to the Afghan people, a group of more than 70 renowned economists said in an open letter on Wednesday.  The economists and academics from the US, the UK, India, …

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Value of Russian securities frozen by EU is revealed

Euroclear, one of the world’s largest financial securities transactions companies, has blocked about $27 billion worth of securities belonging to Russians, according to strategists at ITI Capital. Frozen assets held by foreign investors reportedly exceed $85 billion. The Belgium-based settlement and clearing organization announced the suspension of transactions with Russian …

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Switzerland releases some frozen Russian assets

The Swiss government on Thursday reported that 6.3 billion Swiss francs ($6.33 billion) worth of Russian assets have been frozen under the country’s sanctions. The report said the figure indicates a decrease from the roughly 7.5 billion Swiss francs (over $7 billion) in funds the government reported frozen on April …

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Top EU diplomat wants to see frozen Russian assets seized

EU foreign policy chief Josep Borrell, citing the precedent with the Afghan central bank’s assets worth billions, suggested seizing frozen Russian foreign exchange reserves and using them to cover the costs of rebuilding Ukraine once the military conflict is over. In an interview with FT published on Monday, Borrell said …

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EU calls for confiscation of frozen Russian assets

Russian assets that have been frozen in the EU as part of sanctions against Moscow over the conflict with Kiev should be seized and allocated for the reconstruction of Ukraine, European Council President Charles Michel said on Thursday. “I’m absolutely convinced that this is extremely important not only to freeze …

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