Seizing the frozen funds would hasten the shift to regional payment systems, the president has said
Any attempt by the West to seize Russia’s frozen reserves would set off an irreversible shift toward regional payment systems, which would ultimately benefit the global economy, President Vladimir Putin has said.
An estimated $300 billion worth of Russian sovereign assets were frozen by the West following the escalation of the Ukraine conflict in February 2022. Around €200 billion ($209 billion) is held by Euroclear, a Brussels-based clearing house. EU foreign policy chief Kaja Kallas has repeatedly called for the funds to be tapped for…
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