G7 nears decision on confiscation of frozen Russian assets for Ukraine - FT
Kyiv • UNN
The G7 discusses using frozen Russian assets to support Ukraine as traditional aid channels face problems in the US and Europe.
Western countries are actively exploring ways to confiscate assets of the Russian central bank to finance Ukraine, as political disputes in the US and Europe threaten the flow of financial support. This is what UNN reports with reference to the Financial Times.
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In recent weeks, G7 officials have intensified talks on spending a portion of the estimated $300 billion in frozen Russian sovereign assets. This is a radical step that will open a new chapter in the financial war the west's financial war against moscow
The push is reportedly prompted by the fact that the two most important financial aid packages for Ukraine, worth more than $100 billion dollars failed this week as Republicans in the US Congress and Viktor Orban of Hungary opposed funding for Kyiv.
The confiscation of Russian assets could become an alternative source of funding for Kyiv, especially with the source of funding for Kyiv, especially given the expected huge post-war reconstruction costs.
It is noted that so far, G7 governments have mostly governments have mostly objected to such a step, fearing to lose the trust of some foreign investors in assets in dollars and euros.
As the Financial Times notes, although Washington has never publicly supported the confiscation of has never publicly supported confiscation, in recent weeks the US has taken a more assertive in recent weeks, arguing in G7 committees that there is a path to asset forfeiture that "consistent with international law."