Yellen: there are strong economic and moral reasons for seizing Russian assets
There are “compelling international legal, economic and moral grounds” for the seizure of Russian assets. This was stated by the head of the US Treasury Department, Janet Yellen, her words leads Bloomberg.
As part of a meeting with Western partners, Yellen called for finding a way to seize frozen Russian assets in order to strengthen Ukraine's defense and begin its reconstruction after the conflict.
“This would be a decisive response to Russia’s unprecedented threat to global stability,” she emphasized.
The United States and Britain are pushing G7 allies to seize assets of the Russian Central Bank, but European countries, especially France and Germany, oppose the move due to legal problems and fears that it could harm the stability of the euro. The position of EU member states is crucial as most of the frozen funds are held in Europe, mainly in the Belgian depository Euroclear.
British Prime Minister Rishi Sunak called on Western countries to be bolder in supplying arms to Ukraine, imposing sanctions against Russia and confiscating the country's assets. In his opinion, first you should take the interest income from the assets and send them to Kyiv, and then find legal ways to seize the assets themselves and also transfer these funds to Ukraine.
The G7 countries intend to force Moscow to compensate losses to Ukraine. Western leaders stressed that Russia's assets will remain frozen until Ukraine is compensated for the damage caused. They announced this following the results of a virtual summit of the organization’s leaders.
#Western #countries #urged #find #seize #Russian #assets