The European Union asked banks to report the size of the frozen Russian assets. Officials estimate that of the $258 billion the central bank held in Europe, only $36.4 billion was found and arrested, Bloomberg reported.

More than $200 billion of frozen reserves of the Central Bank of the Russian Federation in the European Union were missing

On the eve of the head of the European Commission, Ursula von der Leyen, said that the EU is studying the possibility of using the blocked reserves of the Central Bank of the Russian Federation to restore Ukraine.

However, the lawyers emphasize that first the EU authorities will have to find out the fate of the “disappeared” funds. They also recommend forcing banks to report Russian Central Bank assets stored in their accounts.

In the spring of 2022, as a condemnation of the entry of Russian troops into the territory of Ukraine, the European Union announced the freezing of the gold and currency reserves of the Russian Federation.

As the Central Bank noted in its report, as of January 1, the regulator held $612.9 billion in reserves. In Germany, the bank held 15.7%, another 9.9% was stored in France, 9.3% in Japan. Another 6.4% were in the US, 5.1% in the UK, 2.7% in Canada and 2.5% in Australia.

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Natalia Gormaleva

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.


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