Russia intends to sue the West’s decision to freeze part of its international reserves

The Russian Central Bank announced its intention to file a lawsuit to overturn the West’s decision to freeze part of Russia’s World Bank reserves, pointing out that the West’s decision prompted the Russian Central Bank to apply additional criteria in order to control the exchange rate of the Russian currency.

“This is an unprecedented freezing of gold and foreign exchange reserves, and we will prepare legal cases and prepare to file them because the move is unprecedented on a global scale,” Bank President Elvira Nabiullina told the Russian parliament, the Duma, today, according to TASS News Agency.

Following the start of the Russian military operation in Ukraine, Western countries, including the European Union, imposed several packages of economic sanctions on Moscow, which included the freezing of Russia’s international reserves worth $300 billion.

NR