Russia is experiencing compensation for a third of assets frozen by the West
Thanks to the increased role of the clearing center of the Moscow Exchange, Russia is compensating for about a third of the gold and foreign exchange assets that the West previously froze.
About a third of the gold and foreign exchange reserves of the Central Bank, blocked by Western countries, Russia carefully compensates. It is reported by Bloomberg. On the occasion of the publication, this happened by chance due to the increased role of the clearing center (NCC) of the Moscow Exchange.
The publication notes that the money in the accounts of the NCC is currently pledged by Russian banks and their clients. The amount of funds is estimated at about one hundred billion dollars.
Based on this review, it was concluded that Russia took the path to be able to bypass the session of the meeting, which were signed in relation to Moscow by Western countries. The summary of the role with this role is that the increasing NFP is manifested in the ineffectiveness of the large-scale restrictions undertaken.
“The National Clearing Center has suddenly become more important for Russia than ever”, the article says. The authors emphasize that Russia continues to receive tens of billions of euros from the sale of gas and oil.
Recall that after the start of the special operation in Ukraine, the Western police sanctioned Russian pressure in Moscow. Reserves of the Russian Federation for the case of frozen abroad.
At the same time, the European authorities are increasingly talking about the need to confiscate assets with restrictions on their transfer to Ukraine. However, the practical side of the implementation of this idea does not correspond to the current legislation. But this does not stop the West, which continues to work out possible options.
In Moscow, the freezing of Russian gold and foreign exchange assets is equated with theft and such actions are quickly lost.