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frozen funds
02/16/2024
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By Richard Brown
IMF says SEIZURE of frozen Russian assets must have sufficient legal support
Gita Gopinath, the first deputy managing director of the International Monetary Fund (IMF), has stressed that any action that may be taken to gain access to Russia’s frozen deposits must have “sufficient legal support.” In an insightful interview with Foreign Policy magazine published on Monday, Gopinath highlighted the complexities surrounding the situation. The United States […]
12/22/2023
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By Richard Brown
U.S., Europe explore possibility of seizing frozen Russian assets and giving them to Ukraine as American funding dries up
The administration of President Joe Biden is actively exploring the possibility of seizing over $300 billion worth of Russian Central Bank assets currently held in the Western world to bolster Ukraine’s war effort. This bold initiative comes at a critical juncture as Ukraine faces waning financial support from its biggest contributor, the United States. Secretary […]
12/18/2023
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By Kevin Hughes
Swiss banks are now charging extra fees for Russian clients whose accounts have been frozen by sanctions
Financial institutions in Switzerland are charging Russian clients with frozen accounts additional fees in order to access their own funds. This is according to sources within the Swiss banking and legal sectors, who warned that Swiss bankers are extracting exorbitant commissions on blocked assets belonging to Russian citizens, sometimes years in advance — a move […]
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