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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 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," [4] [7] and this was reaffirmed after the G7 meeting in December, 2023. [8]
Volodin said that of the $280 billion of Russian assets frozen abroad, only $5 to $6 billion was in the United States while about 210 billion euros ($224 billion) was in the European Union.
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.
U.S. Treasury Secretary Janet Yellen said on Tuesday that G7 and European Union allies are "very close" to finalizing a $50 billion loan to Ukraine backed by frozen Russian assets, with an ...
[52] On 1 March 2022, the French finance minister Bruno Le Maire predicted that the West would freeze "almost 1,000 billion dollars" of Russian assets, which would cause a collapse of the Russian economy. [53] [54] By July 2023, Russian assets frozen by the G7 countries and the EU were estimated at $335 billion (€300 billion). [55]
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."
More than $6 billion of the $300 billion in frozen Russian assets are sitting in U.S. banks. Most of the $300 billion in assets are in Germany, France and Belgium.