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Nabiullina: Central Bank continues to work on returning Russia’s frozen reserves

Photo by Nick Morrison on Unsplash

“We continue to work on getting our reserves in euros and dollars back. In particular, by presidential decree, we introduced restrictions on the withdrawal of funds from Russia by non-residents from unfriendly countries. This is a reciprocal measure, and it forms the negotiating position on this issue,” noted the head of the Bank of Russia.

Earlier it became known that the G7 countries agreed to keep the freezing of Russian assets until the conflict in Ukraine is resolved and Russia pays compensation for damages.

European Commissioner for Justice Didier Reynders said that the European Union had frozen the assets of Russian organizations and individuals for €21.5 billion.

In late January, Olga Shishlyannikova, the head of the Central Bank’s investment financial intermediaries, said that the volume of assets of Russian investors blocked in foreign infrastructure was estimated at 5.7 trillion rubles as of November 30.

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