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EU gives details on its measures regarding Russian Central Bank assets By Reuters

EU gives details on its measures regarding Russian Central Bank assets

© Reuters. A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. A sign reads: “Bank of Russia”. REUTERS/Shamil Zhumatov/File Photo

BRUSSELS (Reuters) – The EU on Monday gave more details on how it will implement restrictive measures regarding Russian Central Bank, it said in a statement.

“The (European) Council decided in particular that central securities depositaries (CSDs) holding more than 1 million euros ($1.1 million) of the Central Bank of Russia’s assets must account extraordinary cash balances accumulating due to EU restrictive measures separately and must also keep corresponding revenues separate”, it said.

It added that CSDs will be prohibited from disposing of the ensuing net profits.

The decision paves the way for the Council to decide on the possible establishment of a financial contribution to the EU budget raised on these net profits to support Ukraine.

($1 = 0.9282 euros)

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