According to Vladimir Putin, the seizure of Russian assets abroad is not a problem for the country and the situation with the ruble can be easily corrected.
Russian President Vladimir Putin said that countries that agreed to freeze the Russian Federation’s gold and foreign exchange reserves have lost Moscow’s trust and it will be difficult to regain it. He said this in his speech at the Eastern Economic Forum on Tuesday (September 12).
Thus, in his opinion, Russia has already earned twice the amount that other countries have frozen.
Putin said, “I know that our gold and foreign exchange reserves have been frozen. We have already earned twice as much. But we are not even talking about this 300 billion, we are talking about shaking trust in those who do this.”
Important
The owner of the Kremlin also commented on the situation with the ruble. According to Putin, nothing terrible is happening to the national currency of the Russian Federation.
“I don’t think there is a problem or difficulty that is completely inevitable here,” he said.
The Russian President also added that “no one will make a sudden move to solve problems with the Russian national currency.”
How much money did the Russian Federation lose after the invasion of Ukraine?
In early 2023, Bloomberg wrote that the European Union and its G7 partners had frozen approximately 300 billion euros ($311 billion) of reserves of the Central Bank of Russia and 19 billion euros of assets under sanctions on Russian businessmen.
Journalists noted that the predictions have not yet been completed because the assets of the aggressor country are in uncertainty and cannot be distributed.
Important
At the same time, Justice Minister Denis Malyuska said in September last year that Ukraine would ask the UN General Assembly to adopt a special resolution that would allow Ukraine to acquire Russian assets within the framework of the international mechanism.
Let us remind you that, according to the results of the first six months of this year, the Russian ruble ranked first among the weakest currencies in the world, almost equivalent to the Turkish lira. At the same time, in the middle, the Central Bank of the Russian Federation increased the key rate to 12% per annum, but this did not save the situation with the ruble: on September 7, the price of the American currency rose to 98.54 rubles. per dollar. This is the highest figure since August 15.
Source: Focus
John Holton is a seasoned author and journalist, known for his expertise in economics. He currently works as a writer at 24 news breaker, where he provides readers with in-depth analysis and commentary on the latest economic developments. With a background in finance and a talent for explaining complex economic concepts in a clear and accessible way, John’s writing is a must-read for anyone interested in staying informed about the economy.