Posted 10 февраля, 05:07

Published 10 февраля, 05:07

Modified 10 февраля, 07:13

Updated 10 февраля, 07:13

Bloomberg: EU can't find assets of the Bank of Russia to transfer to Kiev

Bloomberg: EU can't find assets of the Bank of Russia to transfer to Kiev

10 февраля 2023, 05:07
The Legal Service of the European Union confirmed that no one knows where 86% of frozen Russian assets are located.

The total amount of assets of the Bank of Russia frozen by the EU countries is estimated at $ 258 billion, of which "not lost" - $36.4 billion, writes Bloomberg. The authors of the publication refer to a document that was prepared for the European leaders for the summit with the participation of Ukrainian President Vladimir Zelensky.

The EU Legal Service indicated that in order to give the Kiev regime Russian assets, they must first be found. She recommended that the EU summit oblige European banks to immediately transfer all information about frozen Russian funds to the European Commission.

- Lawyers estimate that about $258 billion can be found, based on the information that the Bank of Russia provided in [early] 2022 in a message about its gold and foreign exchange reserves. To date, EU countries have discovered and reported the location of $36.4 billion of frozen assets of the Central Bank of Russia, the authors of the publication write.

In addition, the EU legal service called for "working with the Group of Seven and the EU's international partners" to find the rest of the frozen Russian gold and foreign exchange reserves if Brussels was going to invest them to pay interest to Ukraine. But the effectiveness of the plan will directly depend on how much of these funds will be found in the accounts of European commercial and central banks.

At the end of last month, it was reported that Western countries blocked about 5.7 trillion rubles of assets of Russian investors. 20% of the amount belongs to retail investors. Earlier, the Swiss authorities admitted that they could not find legal grounds for transferring frozen assets of the Russian Federation to Ukraine - there is no legal basis that would allow such a step.