Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information his Department holds on the level of Russian Central Bank reserves held in the UK; and in what form those reserves are held.
In conjunction with our partners, we have blocked access to £275 billion of the Russian Central Bank’s foreign currency reserves globally. Under the Russia sanctions regime, the Russian Central Bank’s assets have been immobilised in the UK as a result of a prohibition on the provision of financial services in respect of these assets. We continue to work with relevant stakeholders on the implementation of this sanction.