Russian Central Bank not involved in sanctions talks – Nabiullina

Russian Central Bank Governor Elvira Nabiullina said on Thursday that the bank is not involved in discussions on lifting sanctions or unfreezing Russia’s foreign currency reserves.

“The central bank does not participate in such negotiations, I am not aware of this,” she stated when asked if sanctions relief was part of a potential peace deal.

At the start of 2022, Russia’s central bank held approximately $207 billion in euro assets, $67 billion in US dollars, and $37 billion in British pounds. In June 2023, the G7 and EU agreed to use interest generated from frozen Russian assets to back a $50 billion loan for Ukraine. Moscow has pledged legal action against the move.

Attribution: Reuters

Subediting: Y.Yasser