PARLIAMENTARY WRITTEN QUESTION
National Bank Trust: Foreign Exchange (26 April 2022)
Question Asked
To ask the Chancellor of the Exchequer, whether the Russian Central Bank can recover funds in pound sterling in the UK via the National Bank Trust.
Asked by:
Christine Jardine (Liberal Democrat)
Asked by:
Christine Jardine (Liberal Democrat)
Answer
I am unable to comment on individual cases. However, the UK has imposed sanctions that prohibit UK persons from providing financial services for the purposes of foreign exchange or asset management of the Central Bank of Russia, the Russian Ministry of Finance, and the National Wealth Fund of Russia. These restrictions apply to all transactions in pound sterling.
Answered by:
John Glen (Conservative)
28 April 2022
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