G7 countries are actively exploring the possibility of seizing some of Russia’s frozen reserves, worth about $300 billion, in order to provide financial support to Ukraine. This was reported by Finance Times With reference to sources.
According to the US proposal discussed in G7 committees, such a move is “in line with international law” as a response to stop Russia’s aggression. Washington believes there is a “short period of time” for a decision on Russian assets to be made.
At the same time, most European countries still oppose direct seizures of funds for fear of a negative reaction from investors. However, due to difficulties in the approval of new aid packages for Ukraine in the USA and the EU, discussions on the use of reserves have intensified.
According to British Foreign Secretary David Cameron, a legal mechanism to seize some of Russia’s $300 billion reserves is being discussed. He dismissed concerns that it would have a “chilling effect” on investors.
Before that the European Commission I found thisWhat to do with Russian assets.
Previously at the Central Bank stated About the erosion of confidence in the euro due to the seizure of proceeds from frozen assets of the Russian Federation.