Central Bank of the Russian Federation: Freezing of Assets

(asked on 15th May 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will publish a breakdown by quantity and type of the Russian Central Bank assets frozen assets in the UK.


Answered by
Gareth Davies Portrait
Gareth Davies
Exchequer Secretary (HM Treasury)
This question was answered on 22nd May 2023

In conjunction with our partners, we have blocked access to 60% of the Russian Central Bank’s foreign currency reserves globally. Under the Russia sanctions regime, the Russian Central Bank’s assets are not subject to an asset freeze but have been immobilised in the UK as a result of a prohibition on the provision of financial services in respect of these assets. HMT is working closely with relevant authorities to map where these assets are held in the UK.

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