The G7 countries need to immediately find a way to confiscate frozen Russian assets in favor of Ukraine.
This was stated by the head of the US Treasury Janet Yellen, reports the Guardian with reference to AFP.
— It is necessary and urgent for our coalition to find a way to unlock these frozen assets to support continued Ukrainian resistance and long-term recovery, — Yellen told reporters in Sao Paulo, Brazil, ahead of the G20 finance ministers meeting.
She noted that there are strong international law, economic and moral arguments in favor of confiscating the assets of the aggressor country.
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According to her, this would be a decisive response to the unprecedented threat to global stability from Russia.
According to Yellen, this would make it clear that Russia cannot win by continuing the war, and would encourage it to come to the table to negotiate a just peace with Ukraine.
What is known about the frozen assets of the Russian Federation
The EU, G7 and Australia have frozen about €260 billion in securities and cash, with more than two-thirds of it frozen in the EU.
All sides agree that funds should remain blocked to Russia unless it agrees to help rebuild Ukraine, but countries differ on the legality of full asset confiscation.
The USA and Great Britain pushed their G7 allies to completely confiscate the assets of the Russian Central Bank, but now France and Germany are against it due to legal nuances and concerns.
