Central Bank of the Russian Federation
The Central Bank of the Russian Federation (Bank of Russia) is the country's central bank, established in 1990. It is the issuing authority for the Russian ruble and is responsible for monetary policy, banking supervision, and the management of foreign exchange reserves. The bank has its main office in Moscow and a key operational division in Saint Petersburg. Its governor is appointed by the State Duma on the nomination of the President of Russia.
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Proposal would shift frozen Russian assets from Euroclear and Clearstream to a new EU custodian
A proposal presented in Brussels by political commentator Hugo Dixon and co-authors would transfer frozen Russian Central Bank accounts from national depositaries — including Euroclear in Belgium and Clearstream in Luxembourg — onto the balance sheet of a special EU instrument acting as custodian. The mechanism, modelled on the post-Saddam transfer of Iraqi Central Bank accounts, is designed to shield depositaries and Belgium from Russian lawsuits while creating legal and financial groundwork for eventually using the assets in Ukraine's interests. Ukrainian Finance Minister Serhiy Marchenko has publicly backed revisiting the use of frozen Russian assets, citing an acute wartime budget deficit.