Seized Russian Central Bank Assets May Finance Ukraine Rebuild: Banking Sanctions Update for May 15-21, 2022
5/17/2022
In an interview published Tuesday, Germany's finance minister said he supported financing the rebuilding of Ukraine by seizing Russian state interviews.
"I am politically open to the idea of seizing foreign assets of the Russian Central Bank," said Christian Lindner in an interview with Handelsblatt. "In the case of private assets, we have to see what is legally possible. We have to respect the rule of law, even if we are dealing with Russian oligarchs."
According to Bloomberg, German Chancellor Olaf Scholz’s ruling coalition during a cabinet meeting last week agreed “Berlin would play a constructive role in debates about how to channel billions of euros to Ukraine. Sending direct national payments is another option.”
The European Union plans to present later this week proposals on financing the reconstruction of Ukraine.
Related sanctions news:
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Russia Faces a Full Block on Dollar Bond Payments as a Key US Sanctions Waiver is Expected to Expire — Putting Moscow Closer to a Historic Default: Report (Business Insider)
- Google Will Declare Bankruptcy in Russia, Says Russian Authorities Seized Bank Account (Forbes)
- Yellen Links Russia Sanctions To 1940 U.S. Asset Freezes Aimed at Nazis (International Business Times)
- Russia Gives Credit Bank of Moscow License to Export Gold (Reuters)
- UniCredit, Citi Consider Swapping Assets with Russian Institutions – FT (Reuters)
- EU Drafts Plan for Buying Russian Gas Without Breaking Sanctions (Bloomberg)
- Putin's Hockey Pal and Russia's Richest Man Vladimir Potanin Has Been 'Snapping Up Banks for Cheap' Amid an Exodus of Western Owners (Business Insider)