Russia's central bank not part of talks on sanctions lifting, unfreezing reserves, Nabiullina says
Russia's central bank not part of talks on sanctions lifting, unfreezing reserves, Nabiullina says
Published by Global Banking and Finance Review
Posted on February 20, 2025
YEKATERINBURG, Russia (Reuters) - Russian Central Bank Governor Elvira Nabiullina said on Thursday the bank was not part of the talks on lifting sanctions or a freeze on Russia's foreign currency reserves.
"The central bank does not participate in such negotiations, I am not aware of this," she said in response to the question of whether the issue of lifting sanctions on Russia is being discussed as part of a possible peace deal.
At the beginning of 2022, Russia's central bank held around $207 billion in euro assets, $67 billion in U.S. dollar assets and $37 billion in British pound assets.
In June of last year, the Group of Seven and the EU agreed to use interest earned from the frozen Russian assets to support a $50 billion loan for Ukraine. Russia has vowed legal action.
(Reporting by Olesya Astakhova; Writing by Anastasia Teterevleva; editing by Guy Faulconbridge)