EU to reportedly extend sanctions on Russian C. Bank indefinitely
Economy
3h ago(Source: baha news)
EPA-EFE/OLIVIER HOSLET
ECONOMY
Ambassadors from the 27 member states of the European Union could approve the indefinite freezing of the Russian Central Bank's assets, according to a report revealed Wednesday by The Financial Times.
The European Commission's proposal includes extending the sanctions from six months to an open-ended period, ensuring the €190 billion in assets held in Belgium's Euroclear remain frozen. The move, according to the report, could ease US concerns over plans to use the Russian central bank's proceeds to finance a $50 billion loan to Ukraine.
G7 leaders had agreed to the loan in June, with the intention of repaying it from the proceeds of stranded assets, which generate about 3 billion euros annually.