US Advocates for Utilizing Frozen Russian Assets for Ukraine's Reconstruction

Written by Henrik Rothen

Feb.28 - 2024 10:16 AM CET

Photo: Wiki Commons
Photo: Wiki Commons
US Advocates for Utilizing Frozen Russian Assets for Ukraine's Reconstruction.

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The United States Treasury Secretary has called on global leaders to "unlock" the frozen assets of the Russian Central Bank to aid in the reconstruction of Ukraine.

During a G20 finance ministers' meeting in Brazil, Janet Yellen highlighted the necessity and urgency of liquidating approximately $300 billion (£237 billion) in assets.

"I believe there is a strong international law, economic, and moral case for moving forward. This would be a decisive response to Russia's unprecedented threat to global stability," she stated according to Sky News.

In the aftermath of Moscow's invasion of Ukraine in 2022, hundreds of billions of pounds in Russian foreign holdings were frozen and have remained untouched since.

Previously, Zelensky has requested that the $300 billion in frozen Russian assets should be given to Ukraine.

Most recently, the Ukrainian president stated that doing so would significantly weaken Putin. You can read more about it in the article below:

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