5/17, 8:06 AM (Source: TeleTrader)
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G7, EU consider seizing Russian c-bank assets - Lindner

German Finance Minister Christian Lindner told Handelsblatt on Tuesday that he would support the idea of confiscating the Russian Central Bank's "overseas reserves" that would then be used to fund the reconstruction of Ukraine.

Lindner stated that such proposals are already being discussed among the Group of Seven (G7) and the European Union (EU). Nevertheless, the German finance minister warned that "with private assets, we have to see what is legally possible," adding that "we must respect the rule of law even when dealing with Russian oligarchs."

Furthermore, Lindner told L'Economia that the G7 is currently working on implementing more sanctions against Russia and underscored that the sanctions are not to blame for the worsening economic situation as the main cause of this is "Russia's war on Ukraine."

Baha Breaking News (BBN) / AY