The Biden administration is pressing Britain, France, Germany, Italy, Canada and Japan to prepare a strategy for using frozen money on the second anniversary of the invasion.
The White House, amid aid allocation problems in Kyiv, has begun urgent negotiations with allies on using frozen Russian assets for Ukraine’s military support. The New York Times reported this on Thursday, December 21, citing American and European officials.
Negotiations between finance ministers, central bankers, diplomats and lawyers on the subject have intensified in recent weeks, officials said, with the White House pushing for the G7 countries – Britain, France, Germany, Italy, Canada and Japan – to have a strategy on the use of Russian assets on February 24, the second anniversary of the invasion.
In particular, the allies are asked to determine whether the money will be sent directly to Ukraine or used in its interests in other ways, whether it will be used to restore and support the country’s economy or for military purposes.
As you know, after the Russian attack on Ukraine in 2022, the G7 countries, the European Union and Australia froze the assets of the Central Bank of the Russian Federation in the amount of €260 billion. The EU blocked most of it – €210 billion. In turn, the United States only froze $5 billion.
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.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.