Russia to start utilizing income from frozen funds in 'C' accounts in response to West's similar steps - Finance Minister

MOSCOW. Oct 24 (Interfax) - Russia intends to respond symmetrically to the actions of Western countries that have begun utilizing income from Russia's foreign assets frozen in 2022, Finance Minister Anton Siluanov said.

"If Western countries have started utilizing the income from the frozen gold and forex reserves of the Russian Federation, then we plan to do exactly the same," Siluanov said in response to Rossiya 24 TV's question after the State Duma adopted the draft budget in the first reading.

"We have frozen funds of unfriendly companies and organizations. We hold these funds in our accounts as well, and we will use the income from utilizing these assets, the resources, similarly. We will allocate it to the needs of the economy, the needs of the constituent entities of the Russian Federation. These decisions will also be reached and implemented," Siluanov said.