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Grant Ellis / World Bank Group
"I believe our coalition needs to find a way to use these blocked assets as quickly as possible to support Ukraine's resistance and its long-term recovery," she stated.
Yellen expressed her approval of the EU Council decision that elucidated the responsibilities of central securities depositories that retain assets and reserves of the Bank of Russia that were placed under lockdown due to EU restrictions.
The Russian Central Bank's assets, of which more than two thirds were in the EU, were immobilized in the form of cash and securities in the jurisdictions of the G7 partners, the EU, and Australia, totaling over €260 billion.
It is intended for the EU to realize the deferred revenues for Ukraine's benefit if a mechanism to take extraordinary proceeds from Russian assets is devised with G7 partners.
source: reuters.com
Yellen expressed her approval of the EU Council decision that elucidated the responsibilities of central securities depositories that retain assets and reserves of the Bank of Russia that were placed under lockdown due to EU restrictions.
The Russian Central Bank's assets, of which more than two thirds were in the EU, were immobilized in the form of cash and securities in the jurisdictions of the G7 partners, the EU, and Australia, totaling over €260 billion.
It is intended for the EU to realize the deferred revenues for Ukraine's benefit if a mechanism to take extraordinary proceeds from Russian assets is devised with G7 partners.
source: reuters.com
