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Within days of the Russian invasion of Ukraine in February 2022 western countries moved to freeze Russian central bank funds in these countries. [1] [a] In March 2023 (prior to the destruction of the Kakhovka Dam) a joint assessment was released by the Government of Ukraine, the World Bank, the European Commission, and the United Nations, estimating the total cost of reconstruction and ...
G7 negotiators have been discussing for weeks how to best exploit some $300 billion worth of Russian financial assets, such as major currencies and government bonds, which were frozen shortly ...
The Russian central bank has not given a detailed breakdown of what was frozen but a rough outline can be gained from documents detailing Russian holdings at the beginning of 2022.
The vast majority of Russia’s central bank assets that were frozen by the G7 and the European Union are held by the EU, with the US only holding around $5 billion worth, officials told CNN.
On 11 August 2022, the REPOTF announced it had seized $30bn in assets. [3]By 24 February 2023, the anniversary date of the 2022 Russian invasion of Ukraine, the REPOTF had "Blocked or frozen more than $58 billion worth of sanctioned Russians’ assets in financial accounts and economic resources."
The $284 billion or more in frozen assets is nearly half of the $585 billion that Russia had stockpiled as of June 2021. [8] The Biden administration initially allowed Russia to continue to repurpose the substantial funds it has kept in U.S. financial institutions to make required payments on its sovereign debt. But on April 4, the Treasury ...
The United States wants to seize immobilised Russian reserves - around $300 billion globally - and hand them to Ukraine, while EU leaders favour ringfencing profits from the assets, estimating ...
The G7 countries plus the European Union announced in May 2023 that the approximately $300 billion (€275 billion) in Russian central bank assets that had been frozen in these countries would remain frozen "until Russia pays for the damage it has caused to Ukraine," [116] [119] and this was reaffirmed after the G7 meeting in December, 2023. [120]