Advertisement
Advertisement

Russia building reserves in assets the West can’t sanction – central bank chief

By:
Reuters
Published: Apr 18, 2023, 07:03 GMT+00:00

MOSCOW (Reuters) - Russian Central Bank Governor Elvira Nabiullina said on Tuesday Russia is building its international reserves with assets that cannot be targeted by Western sanctions, the TASS news agency reported.

St. Petersburg International Economic Forum (SPIEF)

MOSCOW (Reuters) – Russian Central Bank Governor Elvira Nabiullina said on Tuesday Russia is building its international reserves with assets that cannot be targeted by Western sanctions, the TASS news agency reported.

Western countries froze around $300 billion – or half – of Russia’s international reserves after Moscow sent tens of thousands of troops into Ukraine last year.

The central bank has previously said it considers gold, Chinese yuan and foreign currency held in cash as safe from possible further rounds of Western sanctions.

(Reporting by Reuters; Editing by Andrew Heavens)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Advertisement