Elvira Nabiullina, Bank of Russia
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“Essentially, (confiscation) is a breach of the basic principles of central bank reserve protection,” Nabiullina said. “In international law, this is one of the key, basic principles of immunity of central bank assets from coercive measures of seizure.
“In our view, deviation from this principle, will lead to the, albeit gradual, undermining of the system of international finance and the position of reserve currencies in the world.”