Central Bank Developing Options for Unblocking Russians' Frozen Assets

The head of the Central Bank of Russia, Elvira Nabiullina, has announced that the CBR is developing options for the recovery of frozen assets belonging to Russian citizens through a scheme involving "C" type accounts (designated for currency transactions in Russian currency by non-residents). This was stated by Nabiullina during her speech at the Federation Council, as reported by TASS.

"Options are being considered that may be related to the exchange of frozen assets, although this is a complex issue, including the possibility of repurchasing the frozen assets through 'C' type accounts," said the head of the CBR, adding that the financial sector of Russia has overcome the crisis of 2022, but this does not mean that it is completely invulnerable. She emphasized that the CBR pays special attention to the risks of financial stability.

Earlier, Nabiullina stated that the Russian economy is close to restoring its level of economic activity from 2021. At the same time, she warned that although the worst predictions have not materialized, this does not mean that "the trials are behind us."