IMF comments on potential seizure of frozen Russian assets

IMF comments on potential seizure of frozen Russian assets

The International Monetary Fund (IMF) believes that any decisions related to the seizure of Russian assets should be taken by the relevant country authorities. Meanwhile, the agency is following the ongoing discussions to assess the potential impact of such decisions on the international monetary system.

The relevant statement was made by IMF Communications Department Director Julie Kozak when answering the question of an Ukrinform correspondent in Washington on Thursday.

“So first, I should say that any decisions related to seizure of Russian assets or to impose taxes on the interest holdings of these assets are for the relevant country authorities to take,” Kozak said.

In her words, the IMF is following the ongoing discussions, and the agency’s focus on such issues is “to assess the potential economic implications on any of our member countries or implications on the international monetary system”.

According to Kozak, any assessment that the IMF makes would depend on the precise details of any actions that are taken.

A reminder that, according to Bloomberg, President Joe Biden’s administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for Ukraine’s reconstruction efforts.

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