All news

EU has no clue about whereabouts of 86% of frozen Russian central bank assets — Bloomberg

Of $258 billion that were seized, not more than $36.4 billion has been located, the report said

BRUSSELS, February 9. /TASS/. The EU legal service has effectively confirmed that it has no clue about the whereabouts of 86% of frozen Russian central bank’s assets, Bloomberg reported on Thursday.

Of $258 billion that were seized, not more than $36.4 billion has been located, the report said, citing a document that has been prepared for EU leaders ahead of the recent summit attended by Ukrainian President Vladimir Zelensky.

In order to transfer the Russian assets to Ukraine, they should be found first, the legal service said. It recommended that the EU summit bind European banks to immediately provide all data on the frozen Russian assets to the European Commission.

Lawyers estimate that about $258 billion can be located based on the data that the Bank of Russia reported about its currency and gold reserves at the start of 2022. To date, EU countries have reported the whereabouts of $36.4 billion of the frozen assets of the Russian central bank, the news service said.