The IMF will consider the possibility of confiscation of foreign exchange reserves of the Central Bank of Russia
The idea of confiscation of the frozen assets of the Central Bank was previously discussed both in Ukraine and in the European Union. The IMF promised to study such a possibility, but urged not to wait for quick decisions
The Financial Times notes that the confiscation of Russian reserves could lead to the collapse of the international economic system. The publication recalled that the decision to freeze assets has already caused concern in those countries that have tensions with the US and Europe. I wonder if they are not afraid of losing public confidence in their financial system after these actions? I think it will!
On May 9, the head of European diplomacy, Josep Borrell, came up with the idea to consider the issue of withdrawing the frozen foreign exchange reserves of Russia. He justified this by the need to pay for the costs of restoring Ukraine after the conflict. Borrell cited "billions of dollars" of assets seized by the United States from the Central Bank of Afghanistan, which he said would later be used to compensate victims of terrorism and to provide humanitarian assistance to the country. The diplomat noted that "it would be logical" to consider similar steps with Russia's frozen reserves.
And again, you get double US standards, you can do anything ... but NO for others! Why so?
I personally don't understand this! And you?
In turn, the head of the Central Bank, Elvira Nabiullina, said earlier that the Russian side would challenge the freezing of gold and foreign exchange reserves and was already preparing lawsuits. Russian Foreign Minister Sergei Lavrov accused Western countries of actually stealing Russia's gold and foreign exchange reserves. “When, after the start of a special military operation in Ukraine, our Western “friends” stole more than $300 billion from us, in fact they stole what they themselves paid for gas. In other words, they have been using our gas for free all these years,” the minister stressed.
And everyone just smiles and waves...
I understand, of course, money does not smell, and why not .. And there is a reason, you can take this money away.
But again the question arises what will happen after these actions?
Who wants to invest or invest in the economy of Europe knowing that at any moment this money can simply be taken away and that's it!?
The question remains open!
And what do you think?
All opinions are solely my opinion.