The sovereign funds have been seized by the West as part of Ukraine-related sanctions Nearly $300 billion worth of Russian forex reserves have been frozen by Western countries since March 2022. The EU has been seeking ways to tap the profits from those funds, but Moscow warned that any such move would constitute theft. Russian officials have repeatedly said the confiscation of state and private assets goes against all the principles of free markets. Finance Minister Anton Siluanov has warned of “an absolutely symmetrical response,” noting that there are “sufficient assets” in ‘C-type’ accounts, specialized ruble-d
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