Russia’s Frozen Reserves Appeared to Be Smaller Than Expected by EU

The EU has frozen roughly €23 billion worth of assets of the Russian Central Bank, Reuters reported, citing EU Justice Commissioner, Didier Reynders, who revealed the figure at a news conference on Wednesday, May 25, 2022. He noted that the amount is much smaller than expected and can’t be compared to the assets frozen by the USA.  

Picture: Vesti

According to Reynders, about €10 billion worth of physical assets linked to Russian businessmen and officials, their yachts and villas, for instance, were also arrested. The official did not mention whether all 27 EU member-states had reported the seizure of Russian assets and their amount.

It is specified that this is the first time the EU has revealed the amount it froze in connection with the conflict in Ukraine. Previously, Moscow confirmed that a total of about $300 billion of the central bank’s assets had been seized globally, which is roughly half the Bank of Russia’s overall reserves. Of these funds, around $100 billion was reportedly frozen by the US, while other funds appear to be frozen in other central banks across the globe.

Ru-Main, 26.05.2022
Source: RT 

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