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Confiscation of Russian assets abroad to have implications for world financial system

Earlier on Wednesday, the Committee on Foreign Affairs of the US House of Representatives backed a bill that allows the Washington administration to transfer part of Russia's confiscated assets to Ukraine

MOSCOW, November 8. /TASS/. The confiscation of Russian assets abroad will have far-reaching negative consequences for the entire global financial system, Central Bank Governor Elvira Nabiullina told a briefing, adding that the regulator will take any necessary steps to protect Moscow’s interests.

"We will go to any length to protect our legitimate interests. But I think that this will set a precedent of negative consequences overall for the development of the global financial system," she said.

Earlier on Wednesday, the Committee on Foreign Affairs of the US House of Representatives, the lower house of the US Congress, backed a bill that allows the Washington administration to transfer part of Russia's confiscated assets to Ukraine.

The EU has repeatedly stated since the spring of 2022 that it had frozen around $300 bln worth of Russia’s foreign currency reserves.

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