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<p>In conjunction with our partners, we have immobilised approximately $280 billion
of the Russian Central Bank’s (CBR) foreign currency reserves globally. The CBR’s
assets are not subject to an asset freeze but have been immobilised in the UK as it
is prohibited to provide financial services in respect of these assets. HM Treasury
is working closely with relevant authorities to map the scale and nature of these
assets.</p><p> </p><p>The Government will legislate to require persons to inform HM
Treasury if they hold any foreign exchange reserves or assets in the UK on behalf
of the Central Bank of Russia, Russian Ministry of Finance or Russian National Wealth
Fund.</p><p> </p><p>Separately, the Government has imposed asset freezes against designated
persons under the Russia Sanctions regime. Between February and October 2022, £18.39
billion in frozen funds were reported to the Office of Financial Sanctions Implementation
(OFSI) in relation to this regime.</p><p> </p>
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