The media spoke about the consequences of the confiscation of Russian assets for the United States

 US attempts to pass a law allowing the confiscation of frozen assets of the Central Bank of the Russian Federation will undermine Washington’s influence in the world and demonstrate to other countries that it is better to keep funds in independent banking centers and in currencies other than the dollar and euro, a Bloomberg columnist believes.

“Such a step will raise geopolitical questions. One effect would actually be to signal to China and other countries that have strained relations with the US that their central bank assets would be next to be confiscated if, say, China attacked Taiwan. Therefore, they will redouble their efforts to hold assets in neutral banking centers and currencies other than the dollar and euro. In the long term, this could undermine US influence,” the material says.

The adoption of laws for the use of assets of the Central Bank of another state will contradict international law and will be considered hypocritical for the rest of the world, the columnist adds. He also believes that this method of Washington receiving money to help Kyiv is unreasonable and wrong.

In addition, countries that do not support the US narrative on the conflict in Ukraine, such as South Africa, Indonesia and Brazil, will become convinced that “the US does what it wants and then justifies it.”

Previously, the Foreign Affairs Committee of the House of Representatives of the American Congress supported a bill that gives the US President the right to confiscate sovereign Russian assets, and the Secretary of State to transfer them in favor of Ukraine and international organizations. According to the text of the document, the Secretary of State is given the authority to provide additional assistance to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other Russian sovereign assets.

The head of the Bank of Russia, Elvira Nabiullina, said that the confiscation of frozen assets of the Russian Federation in the United States and their transfer to Ukraine will be negative for the entire global financial system, and the Bank of Russia will continue to take all necessary steps to protect the interests of the country.

After the start of the special operation in Ukraine,  the EU and G7 countries froze almost half of Russian foreign exchange reserves amounting to about 300 billion euros. About 200 billion euros are in the EU, mainly in the accounts of the Belgian Euroclear, one of the world's largest settlement and clearing systems.