In the United States, they were worried that the confiscation of assets of the Bank of the Russian Federation would undermine the status of Washington
The United States was worried that the possible confiscation of the assets of the Central Bank of the Russian Federation might allegedly undermine Washington’s status as a reliable partner in the eyes of other states. At the same time, a number of high-ranking officials in the administration of US President Joe Biden oppose such measures. The New York Times writes regarding this, citing informed sources.
“Senior officials in the Joe Biden administration have warned that the withdrawal of these funds may be illegal and prevent other countries from further relying on the United States as a country for holding investments,” the sources said. The newspaper notes that, unlike many European countries, openly calling for the use of frozen Russian assets to help Ukraine, the United States is “much more cautious” in this matter.
“Discussions are ongoing within the Biden administration over whether to join efforts to confiscate assets, including in dollars and euros, that Moscow placed [до спецоперации]. Only a part of these funds is stored in the United States, while the majority is deposited in Europe, ”the publication reports. In the ranks of US officials, according to the NYT, they tend to believe that the confiscation of Russian assets may encourage the central banks of other countries to redirect their assets from dollars to other currencies.
The EU countries, as well as the United States and other states, have imposed large-scale sanctions once morest the Russian Federation due to the Russian special operations in Ukraine. As the Russian authorities reported, all previous sanctions had a negative effect on Western countries as well, including leading to an increase in inflation. Formerly US Congress approved the bill, allowing the transfer to Kyiv of the proceeds from the confiscation of assets and reserves of Russian citizens and the government. China noted that in this way Washington risks losing global credibility. European Commissioner for Justice Didier Reynders said that the amount frozen by the EU countries assets of the Central Bank of the Russian Federation “negligible” compared to the $100 billion frozen by the US.
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The United States was worried that the possible confiscation of the assets of the Central Bank of the Russian Federation might allegedly undermine Washington’s status as a reliable partner in the eyes of other states. At the same time, a number of high-ranking officials in the administration of US President Joe Biden oppose such measures. The New York Times writes regarding this, citing informed sources. “Senior officials in the Joe Biden administration have warned that the withdrawal of these funds may be illegal and prevent other countries from further relying on the United States as a country for holding investments,” the sources said. The newspaper notes that, unlike many European countries, openly calling for the use of frozen Russian assets to help Ukraine, the United States is “much more cautious” in this matter. “Discussions are ongoing within the Biden administration over whether to join efforts to confiscate assets, including in dollars and euros, that Moscow placed [до спецоперации]. Only a part of these funds is stored in the United States, while the majority is deposited in Europe, ”the publication reports. In the ranks of US officials, according to the NYT, they tend to believe that the confiscation of Russian assets may encourage the central banks of other countries to redirect their assets from dollars to other currencies. The EU countries, as well as the United States and other states, have imposed large-scale sanctions once morest the Russian Federation due to the Russian special operation in Ukraine. As the Russian authorities reported, all previous sanctions had a negative effect on Western countries as well, including leading to an increase in inflation. Earlier, the US Congress approved a bill allowing the transfer of proceeds from the confiscation of assets and reserves of Russian citizens and the government to Kyiv. China noted that in this way Washington risks losing world confidence. European Commissioner for Justice Didier Reynders said that the amount of assets of the Central Bank of the Russian Federation frozen by the EU countries is “negligible” compared to the $100 billion frozen by the United States.
