US Treasury Secretary calls for finding a way to transfer Russian frozen assets to Ukraine
Kyiv • UNN
The U.S. Treasury Secretary has called on G20 financial leaders to find a way to transfer $300 billion worth of frozen Russian assets to Ukraine to strengthen its defense and rebuild after the war.
U.S. Treasury Secretary Janet Yellen has called on the world's largest developed economies to urgently find a way to use frozen Russian assets to help strengthen Ukraine's defense against Russian invasion and long-term recovery from the war. This was reported by Bloomberg, according to UNN.
I believe there are strong international legal, economic and moral arguments for moving forward,
Details
According to her, this would be a decisive response to Russia's unprecedented threat to global stability.
This would show that Russia cannot win by prolonging the war and would encourage it to come to the negotiating table to conclude a just peace with Ukraine,
Addendum
The United States, the European Union, and other G7 countries are considering how best to use frozen Russian assets to support Ukraine.
In late 2023, the United States proposed that the G7 working groups explore ways to confiscate $300 billion worth of frozen Russian assets, as the allies rush to agree on a plan for the second anniversary of Russia's full-scale invasion of Ukraine.
The World Bank estimates that Ukraine's losses from the war as of the end of 2023 amount to nearly $499 billion, with sectors such as trade and industry, agriculture, energy, and transportation being the most affected.