Kremlin: Western banks understand catastrophic consequences of Russian asset confiscation
- Economy
- Reuters
- Published Date: 01:23 | 22 March 2024
- Modified Date: 01:23 | 22 March 2024
The Kremlin on Friday said Western banks' legal departments understand the "catastrophic consequences" that would follow should the EU proceed with plans to confiscate Russian assets.
Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation.