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This is CBS Eye on the World. Here's John Batchelor.

I welcome my colleague Michael Bernstein of the Hoover Institution to comment on the sanctions against the Russian aggression in Ukraine.

We begin, however, with the assets that the European Commission and others still retain from the initial invasion and the sanctions against Russia.

One hundred and ninety one billion euros in Russian central bank assets are at Euroclear,

which is the European Commission's holding for money for the European central banking.

Michael, they're proposing what is to be done, but they also don't want to take risks with

this money.

So where are they going now with it, $191 billion plus income?

Good evening to you.

Good evening to you, and the problem is that the interest rates, the European Central Bank,

has been cutting very, very aggressively for the last

couple of years. So in 24 and 25, they made eight cuts, 25 basis points each. And so when

the whole debate started, the deposit rate was 4%. Now, since mid-June, it is 2%.

So they're losing money and interest.

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