Russia is preparing for litigation to thwart US and EU plans to confiscate some of the Central Bank’s frozen assets in favour of Ukraine.
Bloomberg’s sources, who are looking into the possibility of confiscating Russian assets, said they have concluded that it is unlikely.
“The Bank of Russia is now close to concluding an agreement with international law firms to represent the country’s interests in the event of litigation,” the sources said.
According to the sources, officials believe that the legal proceedings will prevent the transfer of funds to Ukraine even if Russia fails to gain control over them.
Earlier, the White House supported the bill on the confiscation of Russian assets.
Russian presidential spokesman Dmitry Peskov called it a provocation.
In addition, the US State Department said that it would make decisions on the use of Russia’s assets together with the G7.