Some Eurosystem central banks hold Bank of Russia assets, ECB says

Holdings could become significant if further sanctions directly target Russian central bank

Bank of Russia
The Bank of Russia
Photo: Kuba/Wikimedia Commons

Some of the Russian central bank’s reserves are held by national central banks in the eurozone, the European Central Bank confirmed today (February 25).

The Bank of Russia’s own statements say that some other holdings may be held by the Bank for International Settlements and the International Monetary Fund, or by other central banks. Central Banking has not been able to confirm whether the Bank of Russia does have any holdings deposited at the BIS or IMF. It is not clear what proportion of

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