The EU can’t find most of Russia’s $300bn of frozen reserves

51 members of the European Parliament sent a letter to the leaders of the EU with the demand to create a single register of the funds of the Central Bank of the Russian Federation and Russian oligarchs blocked in the European Union, indicating the amounts and location of these funds. They emphasized that such a register still does not exist, and demand that the European Commission encourage EU member states to share with it information about seized Russian money in order to "have a clear picture of the situation."

The European financial authorities, despite its statement about blocking €300 billion belonging to the Central Bank of Russia, have still not been able to find these funds. The estimate of blocked assets was based only on the statements of Russia itself, so in reality they may be much lower.

EU member states have the legal authority to temporarily use the assets of the Russian Central Bank in the amount of at least €33.8 billion for the reconstruction of Ukraine.

Sourse: Delfi