Russia prepares legal battle to stall seizure of frozen reserves – Bloomberg

Russia prepares legal battle to stall seizure of frozen reserves – Bloomberg

Russia is devising a legal challenge to snarl any efforts by the United States or Europe to confiscate some of its $300 billion in frozen central bank assets in favor of Ukraine.

That's according to Bloomberg, which refers to people familiar with the matter, Ukrinform reports.

Officials in Moscow, who are studying the possibility of the funds being seized, have concluded such an outcome is unlikely, they said, asking not to be identified because the information is not public.

The Bank of Russia is currently nearing an agreement with international law firms to represent the country's interests in case of a court showdown.

Read also: IMF comments on potential seizure of frozen Russian assets

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: