Professor of the Goethe University, located in Frankfurt am Main, Jan Peter Cranen, said that the freezing of reserves Bank of Russia could lead to the fact that the central banks of other countries will “hide” their dollar reserves. This is reported by the German newspaper Wirtschafts Woche.
He clarified that financial universities can create “state front companies” in order to use these reserves. Among other things, most anti-Western countries will think about whether it is worth keeping assets in the accounts of Western banks.
“Diversification will most likely occur. And not only in the reserve currencies used, but also in where and how to store them. Such actions can be taken in secret from others. Foreign exchange reserves can be hidden, and the Central Bank has options on how to do it safely,” said Kranen.
According to him, countries will soon hold funds in small parts in the private capital market. It will be impossible to determine their owner, which will allow you to save investments in Western financial markets.