Washington is consulting with the G7 countries and the European Union on this issue.
The United States may refuse to confiscate frozen Russian < strong>assets in favor of Ukraine, if this proposal is not supported by the G7 countries and the European Union.
Written by < strong>AP.
The United States has frozen about $5 billion in Russian central bank money that could be seized under the massive U.S. aid package for Ukraine and other allies that President Joe Biden signed into law on Wednesday.
The Restoring Economic Prosperity and Opportunity for Ukrainians Act requires the US President and the Treasury Department to begin a search for Russian assets in the US within the next 90 days and report to Congress within 180 days on the results of the search.
A month after these procedures, President Joe Biden will have the power to seize, confiscate or transfer rights to any Russian government assets under Washington's jurisdiction.
However, the White House wants to extend consultations with allies in order to act together, which could slow down this process. National Security Adviser Jake Sullivan confirmed that the United States is consulting with partners to “act together.”
In turn, Treasury Secretary Janet Yellen said that the United States is unlikely to act without the support of its G7 allies.
Recall that it was previously reported that Borrell spoke about the EU plan to use the frozen assets of the Russian Federation for the needs of Ukraine.
In addition, we previously reported that Russia threatened the EU with a “harsh response” to the seizure of frozen assets.
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