Frozen Russian assets for Ukraine: US Treasury Secretary considers the EU's move constructive, but points to a number of options
Kyiv • UNN
U.S. Treasury Secretary Janet Yellen said that direct confiscation of Russian assets is one possibility, but that these assets could also serve as collateral for borrowing to help Ukraine, according to an interview with Reuters.
Direct confiscation of Russian assets may be justified, but it is only one possibility, as the assets could instead serve as collateral for borrowing on the market to help Ukraine, US Treasury Secretary Janet Yellen said in an interview with Reuters, UNN reports.
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"That's an option that's been discussed. The leaders have asked us to give them a range of options," Yellen said, when asked if the leading option was pulling forward the interest on those assets to issue bonds or loans for Ukraine.
The Europeans have taken a very constructive step and that is most of Russian assets held in Belgium ... have now converted to cash and Euroclear earns interest on those assets. The European Union has agreed to segregate that interest and essentially move forward on a program in which it can be transferred to Ukraine. That is an approach that could be broadly supported by countries that are concerned about seizure of assets ... there are a range of options
