G7 countries are closer to the confiscation of Russian assets for Ukraine – media

The intensification of negotiations is due to the fact that in recent weeks a crisis has arisen in the financing of Ukrainian expenses.

In Europe and the United States, about $300 billion of Russian sovereign assets have been frozen for more than a year; the G7 countries are getting closer to transferring these funds to Ukraine. The Financial Times writes about it.

It was noted that from the beginning of the full-scale invasion of Russia, the EU and the United States hesitated to take the decisive step of transferring this money to Ukraine, but the situation seems to be changing. This is mainly due to the crisis in financing Ukrainian expenses with personal funds.

In November and December 2023, the financing situation in Ukraine worsens in the US and EU; due to the position of individual politicians, Ukraine will not receive tens of billions of dollars, forcing us to look for alternative ways.

“The American official said that Washington is actively negotiating the use of Russian sovereign assets and believes that there is a short time to make a decision. They suggested that it could be discussed at a meeting of G7 leaders,” the article says.

The EU’s position is colder and mainly aimed at cutting profits for Russian companies.

“More and more countries are pointing at assets and wondering why they are still there,” said one European diplomat.

Let’s recall that earlier the United States took a decisive step towards the confiscation of frozen assets of Russia in favor of Ukraine. A panel of the US House of Representatives has backed a bill allowing President Joe Biden to confiscate sanctioned Russian assets.

In June, the leaders of the EU member states supported the plan to use the fixed assets of the Central Bank in favor of Ukraine.