Russian central bank reacts to discussions on lifting sanctions
According to Elvira Nabiullina, the head of the regulator, it is not involved in any discussions regarding the lifting of sanctions. Read Full Article at RT.com
TroibNews 
The US has indicated that easing restrictions may be considered as part of a potential peace deal regarding Ukraine.
The Bank of Russia has stated that it is not in discussions with the US government about lifting the economic sanctions imposed due to the Ukraine conflict. Meanwhile, Washington has hinted that sanctions relief might play a role in the peace process aimed at ending hostilities, which has led to media speculation around possible negotiations.
During the 'Cybersecurity in Finance' forum held in Ekaterinburg on Thursday, Elvira Nabiullina, the head of the Central Bank of Russia (CBR), was inquired about whether there were any discussions focused on relaxing financial sanctions and unfreezing Russia's sovereign reserves.
“The Central Bank is not participating in such negotiations. I am not aware of this,” Nabiullina stated, as reported by Russian media.
Since the escalation of violence in February 2022, the West has imposed an unprecedented number of sanctions on Russia. Approximately $300 billion belonging to the Russian central bank is currently frozen in foreign accounts, mainly within the US and EU.
These assets are already being utilized to support a $50 billion loan for Ukraine from the G7, and Kiev has been urging its Western allies to seize the assets to fund military and reconstruction efforts. Russia has termed this action “theft” and has vowed to challenge it through legal means.
After recent high-level discussions between Moscow and Washington in Saudi Arabia, US Secretary of State Marco Rubio informed journalists that addressing the issue of sanctions relief will be necessary for achieving a “sustainable, enduring” resolution to the Ukraine conflict.
“I would say to you that, in order to bring an end to any conflict, there has to be concessions made by all sides,” he remarked.
Rubio also emphasized that Washington is interested in fostering economic cooperation with Moscow once hostilities cease. He stressed that the removal of sanctions must involve the participation of Washington's European allies.
The first meeting between Russian and American officials in three years has incited backlash within the EU. Member states have accused Washington of engaging in talks with Moscow without prior consultation and of sidelining Brussels in the negotiations.
In response, the EU swiftly approved a 16th package of sanctions against Russia on Wednesday. European Commission President Ursula von der Leyen stated on X that the bloc is “committed to keep up the pressure on the Kremlin.” These new measures, agreed upon by representatives from the 27 EU member states, are expected to be finalized by EU foreign ministers on Monday.
The Kremlin has consistently labeled Western sanctions as illegal, asserting that these restrictions have not succeeded in destabilizing the Russian economy or isolating it from the global financial system.
Aarav Patel for TROIB News
The Bank of Russia has stated that it is not in discussions with the US government about lifting the economic sanctions imposed due to the Ukraine conflict. Meanwhile, Washington has hinted that sanctions relief might play a role in the peace process aimed at ending hostilities, which has led to media speculation around possible negotiations.
During the 'Cybersecurity in Finance' forum held in Ekaterinburg on Thursday, Elvira Nabiullina, the head of the Central Bank of Russia (CBR), was inquired about whether there were any discussions focused on relaxing financial sanctions and unfreezing Russia's sovereign reserves.
“The Central Bank is not participating in such negotiations. I am not aware of this,” Nabiullina stated, as reported by Russian media.
Since the escalation of violence in February 2022, the West has imposed an unprecedented number of sanctions on Russia. Approximately $300 billion belonging to the Russian central bank is currently frozen in foreign accounts, mainly within the US and EU.
These assets are already being utilized to support a $50 billion loan for Ukraine from the G7, and Kiev has been urging its Western allies to seize the assets to fund military and reconstruction efforts. Russia has termed this action “theft” and has vowed to challenge it through legal means.
After recent high-level discussions between Moscow and Washington in Saudi Arabia, US Secretary of State Marco Rubio informed journalists that addressing the issue of sanctions relief will be necessary for achieving a “sustainable, enduring” resolution to the Ukraine conflict.
“I would say to you that, in order to bring an end to any conflict, there has to be concessions made by all sides,” he remarked.
Rubio also emphasized that Washington is interested in fostering economic cooperation with Moscow once hostilities cease. He stressed that the removal of sanctions must involve the participation of Washington's European allies.
The first meeting between Russian and American officials in three years has incited backlash within the EU. Member states have accused Washington of engaging in talks with Moscow without prior consultation and of sidelining Brussels in the negotiations.
In response, the EU swiftly approved a 16th package of sanctions against Russia on Wednesday. European Commission President Ursula von der Leyen stated on X that the bloc is “committed to keep up the pressure on the Kremlin.” These new measures, agreed upon by representatives from the 27 EU member states, are expected to be finalized by EU foreign ministers on Monday.
The Kremlin has consistently labeled Western sanctions as illegal, asserting that these restrictions have not succeeded in destabilizing the Russian economy or isolating it from the global financial system.
Aarav Patel for TROIB News
