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Russia: Financial Services

Question for Treasury

UIN HL7098, tabled on 18 March 2022

To ask Her Majesty's Government what representations they have made to the Bank of International Settlements to ensure that the suspension of international reserves prevents Russia from making international payments.

Answered on

31 March 2022

The government and Bank of England have cooperated closely in implementing sanctions on Russia and will continue to do so. The Bank of England has engaged with the Bank of International Settlements (BIS). The BIS has suspended access of the Central Bank of Russia to all BIS services, meetings and other BIS activities.

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