from RT:
Roughly $300 billion of Russian central bank assets has been frozen by Ukraine’s backers as part of sanctions against Moscow
The West will not return any of the Russian sovereign assets frozen as part of sanctions over the Ukraine conflict, the CEO of major Russian lender VTB, Andrey Kostin, has predicted, as cited by Reuters.
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The US and its allies have immobilized around $300 billion of assets belonging to the Russian central bank since 2022 as part of Ukraine-related sanctions. The funds deposited in Brussels-based clearing house Euroclear have generated billions in interest, which the EU has decided to use to finance Kiev.
“In the West, they say, let’s pay for the reconstruction of Ukraine from the reserves. And they will draw up such a bill that even the reserves will not be enough,” Kostin, the CEO of Russia’s second-largest lender, told Reuters in an interview published on Monday.
The new president of the European Council, Antonio Costa, said on Sunday that the EU will continue to provide economic and military aid to Ukraine in the coming year, using the interest accrued on frozen Russian money.
“Starting next month, we plan to provide, for a full year, every month, €1.5 billion [$1.58 billion] of assistance. This money comes from the proceeds of Russia’s frozen assets and can also be used for military purposes,” Costa said during a visit to Kiev on day one of his mandate.
