The head of the Italian Central Bank warned the EU against using the euro as a weapon

If European Union (EU) will want to confiscate profits from frozen Russian assets, the euro may lose its attractiveness. The head of the Central Bank (CB) warned about this Italy Fabio Panetta, writes the publication Financial Times (FT).

He called international relations part of a “repetitive game.” “Weaponizing a currency inevitably reduces its attractiveness and encourages the emergence of alternatives,” Panetta said.

The head of the Central Bank recalled the Chinese yuan, which has already managed to overtake the euro as a world currency.

Earlier, Reuters wrote that the European Union is unlikely confiscates frozen Russian assets. According to Europeans, this step carries too many risks.

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