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Bank of Russia plans to protect its interests if EU uses its frozen assets

Russian presidential spokesman Dmitry Peskov said earlier that European banks understand the catastrophic consequences that will stem from expropriating Russia's assets

MOSCOW, March 22. /TASS/. If the West uses frozen Russian assets, the Bank of Russia will take appropriate measures to protect its interests, Governor of the Bank of Russia Elvira Nabiullina said at a press conference.

"As for the EU's actions with frozen assets, decisions will be made. We will take appropriate measures to protect our interests," she said.

Russian presidential spokesman Dmitry Peskov said earlier that European banks understand the catastrophic consequences that will stem from expropriating Russia's assets, as the fallout will indeed be huge. "The legal service of any bank understands the catastrophic consequences of such activity in confiscating assets. If such decisions are implemented, this will entail very serious consequences for those who took them and those who implemented them," Peskov said.

Earlier, Reuters reported citing sources that European banks were lobbying Brussels to forget about tapping Russia’s frozen assets. The EU is considering introducing a tax close to 100% on Russian assets frozen after the start of the special operation in Ukraine. The funds received will go directly to the European Commission, which intends to subsequently transfer them to Kiev. German Chancellor Olaf Scholz supported the decision, explaining that, in his opinion, these funds do not belong to anyone - and therefore can be used to buy weapons and ammunition for Ukraine.

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Foreign policy Central Bank of Russia EU

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