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Madrid

Seizure of Russian assets could affect the role of the euro as a reserve currency. FT:


A possible seizure of frozen Russian assets in the European Union could affect the role of the euro as a global reserve currency. This is reported by the Financial Times.


It is noted that the assets denominated in euros make up about 20% of the foreign currency reserves held by the world's central banks. In this respect, the euro is inferior only to the US dollar, which accounts for almost 60% of the world's foreign currency reserves.


However, if the European Union decides to seize Russian assets, central banks and private investors will question the value of buying European securities.


Meanwhile, the European Central Bank has expressed doubts about the Russian asset confiscation scheme and pointed out its risks. The article notes that several European countries, which have long opposed the plan, have changed their stance and now support it.

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