Yellen says legal obstacles remain on seizure of Russian assets to aid Ukraine

📆 2/27/2023 9:10 PM
📰 STForeignDesk

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Russia’s nuclear energy sector has thus far escaped several rounds of sanctions. Read more at straitstimes.com.

but central bank and other large pools of assets frozen by sanctions are another matter.

The United States and Western allies have seized more than US$300 billion in Russian central bank foreign currency assets frozen by sanctions. The assets are held abroad, with a significant portion at the Federal Reserve Bank of New York, but remain under Russian ownership. “We want to deprive Russia of revenue. We also need to look at potential consequences of the sanctions for ourselves and our partners,” Yellen told reporters.

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