Janet Yellen considered a “viable” option for the G7 countries to provide a loan, which would be secured with Russian assets.
The “most promising” idea for Ukraine is for the G7 countries to give it a loan, which will be secured by income and interest from Russia’s fixed assets in Europe. This is what US Treasury Secretary Janet Yellen said, The New York Times reports.
Along with the announced option for using $300 billion of Russia’s dormant assets, more remains to be considered.
G7 finance ministers will meet in Italy this week with the aim of finalizing a plan they can present to heads of state before the group’s leaders meet next month.
As a reminder, the United States believes it would be legal under international law to confiscate the money and hand it over to Ukraine, but some European countries, particularly France and Germany, are wary of the legality of such a move and the precedent it will set. create. The desire to act collectively in Europe has greatly weakened the US commitment to this idea.
As you know, the countries of the European Union agreed that they are ready to use 90% of the revenues to buy weapons for Ukraine through the European Peace Fund. The remaining 10% will go to reconstruction and non-lethal acquisitions to satisfy countries such as Ireland, Austria, Cyprus and Malta, which are militarily neutral.
Hungary blocks the confiscation of frozen assets of the Russian Federation – media
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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.