Russia does not intend to buy assets blocked abroad 29.11.2022
Russia is not considering buying out blocked foreign assets. This is stated in the draftMain Interests development of the financial market of the Russian Federation for 2023β2025β.
According to the regulator, market participants are currently taking measures to resolve problems associated with blocked assets, including in court. The Central Bank takes an active part in these processes.
βThe Bank of Russia interacts with financial institutions on the issues of adequate risk management. Eases have been introduced for recognizing banks’ losses on blocked assets. At the same time, the Bank of Russia does not consider the purchase of blocked assets,β the document says.
Previously, it was known that only in countries of application frozen assets totaling 68 billion euros. The bulk of the frozen assets are located in Estonia and Luxembourg (55.5 billion euros). These countries, as well as Germany, Ireland, Italy, Austria and France account for more than 90% of the frozen assets.
Finance Minister Anton Siluanov said that his department is working on capabilities assets frozen abroad. According to the minister, such a scheme is possible, but it is very complex and needs to be included in the adoption of legislative decisions.
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