Posted 12/28/2023, 2:27:06 PM
Russia Has $300 Billion in Foreign Reserves Frozen Abroad After Ukraine Invasion
- Russia had around $300 billion in foreign currency reserves frozen in the West after the Ukraine invasion
- The frozen assets were held in currencies like euros, dollars, and pounds in the form of bonds, bank deposits, etc.
- The Russian central bank has confirmed the freeze but accused the West of "theft"
- Russia has warned confiscation of the assets would violate free market principles and could lead to Russian confiscation of foreign assets held in the country
- The exact breakdown of the frozen assets is unknown but they were not hidden behind complex ownership chains so should not be hard to identify