Russia Warns of 'Catastrophic Consequences' for Western Banks
Friday, 22 March 2024, 13:34
Warning of Catastrophic Consequences
The Kremlin cautioned against the EU's plans to confiscate Russian assets held in Western banks, citing potential dire repercussions if implemented.
Lobbying Against EU Proposals
Some Western banks are apprehensive about the EU's proposal to redistribute interest earned on frozen Russian assets, fearing costly litigation and financial turbulence.
European Union leaders have taken steps to allocate funds for arming Ukraine, aiming to bolster Kyiv's defense in the conflict with Russia despite the upcoming asset freezing.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.