Audit Chamber offers to exclude frozen assets from Natl Wealth Fund

MOSCOW, Jul 28 (PRIME) -- The Audit Chamber has offered to exclude the funds placed in the currencies of the countries that imposed sanctions on Russia from the National Wealth Fund, according to a report seen by PRIME on Thursday.

The auditors said that after several states had introduced sanctions against the central bank in 2022, its accounts in the euros, British pounds and Japanese yens were blocked.  The share of euro in the fund amounted to 8%, of the British pound to 3.1%, of the yen to 2.9%.

Head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin said as cited by the auditors that the National Wealth Fund has failed to become a source of long investment for business. The official said that the fund's money did not finance new infrastructure projects over the past several years, and that the list of self-sustaining projects eligible for financing was not extended.

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