Security Council chief calls on states to reconsider policy of holding reserves in the West
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Russian Security Council Secretary Sergey Shoigu stated that Western countries have frozen approximately 590 billion dollars in foreign assets.
Shoigu is convinced that all world leaders should draw appropriate conclusions regarding the storage of national savings in the West. Russia emphasizes the need to diversify foreign currency reserves and seek alternative financial centers as protection against sanctions.
Sergey Shoygu stated that the West has frozen approximately $590 billion in foreign assets and called on countries to reconsider the practice of storing reserves in Western financial institutions. According to him, this demonstrates serious political and economic risks for sovereign states.
Shoygu's statement reflects an escalation of the debate on global financial architecture — other countries, particularly those under geopolitical pressure, may reconsider their strategy for placing reserves, which will affect the dynamics of international financial flows. It also signals Russia's readiness and potentially that of other states to seek alternative — for example, gold or cryptocurrency — ways of storing assets outside Western control.

Mehmet Yılmaz