Billions of Russian wealth blocked by Sanctions

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  After Moscow's invasion of Ukraine in 2022, the United States and its allies took action by prohibiting transactions with Russia's central bank and finance ministry. 


This move effectively


blocked around $300 billion of sovereign Russian assets in Western countries.


 Most of these frozen assets are held in Germany, France, and Belgium. The House of Representatives also passed the REPO Act, allowing the Biden administration to confiscate billions of dollars' worth of Russian assets sitting in U.S. banks and transfer them to Ukraine for reconstruction.


 However, this idea has been debated by economists and foreign policy experts, with some expressing concerns about potential long-term economic effects. 🌐🇺🇦

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