US President Joe Biden’s administration supports legislation that would allow the seizure of nearly $300 billion in frozen Russian assets for the reconstruction of Ukraine. This was reported in the agency’s article Bloomberg.
A memo sent by the US National Security Council to the Senate Foreign Relations Committee said he “welcomes in principle” legislation that would allow the seizure of Russian funds. The bill would provide the US executive branch with the necessary powers to seize Russia’s sovereign assets for the benefit of Ukraine.
Bloobmerg states that Biden’s support for such a move comes after Republicans in Congress blocked more than $60 billion in funding to Ukraine.
The US administration also wants to coordinate such measures with G7 allies, particularly in Europe, where nearly $200 billion in frozen Russian assets are held and the idea of unilateral confiscation has little support.
Former US Treasury Secretary Janet Yellen statedIt was stated that the issue of seizing Russian assets was discussed at the G7 level.
Previously USA extended List of anti-Russian sanctions