https://sputnikglobe.com/20231012/us-officials-actively-promoting-idea-of-sending-russias-frozen-funds-to-ukraine---reports-1114125100.html
US Officials Actively Promoting Idea of Sending Russia's Frozen Funds to Ukraine - Reports
US Officials Actively Promoting Idea of Sending Russia's Frozen Funds to Ukraine - Reports
Sputnik International
US officials have intensified their efforts to convince Western governments to use frozen assets of the Central Bank of Russia to support Ukraine, an American newspaper reported on Wednesday, citing sources.
2023-10-12T07:45+0000
2023-10-12T07:45+0000
2023-10-12T07:45+0000
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The idea has gained more popularity in recent times amid new obstacles faced by the US and the EU governments in attempts to send money of their taxpayers to Ukraine, the newspaper said. However, there are still certain financial and legal challenges preventing the Western authorities from confiscating Russia's resources. In particular, the United States and the European Union are concerned over the possible loss of trust from other governments keeping their money in Western banks, the news agency stated. Moreover, there are special constitutional norms forbidding the White House to confiscate anyone's money unless the country is involved in war with the United States, US lawyers told the newspaper. The EU member states have reported having more than 200 billion euros ($211 billion) of Russian central bank's assets frozen in their banks. Moreover, EU banks are holding 24.1 billion euros of assets belonging to individuals and private entities. Earlier this year, EU representatives, commissioners and legislators started discussing a legal framework that would enable confiscation of assets of Russian citizens and entities accused of violating EU sanctions. However, no concrete steps have been taken in this regard so far. Moscow has on many occasions said that any attempts to confiscate frozen Russian assets are an expropriation of property and a violation of international law. Kremlin spokesman Dmitry Peskov told Sputnik that Russia would do everything possible to return the seized assets.
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US Officials Actively Promoting Idea of Sending Russia's Frozen Funds to Ukraine - Reports
MOSCOW (Sputnik) - US officials have intensified their efforts to convince Western governments to use frozen assets of the Central Bank of Russia to support Ukraine, an American newspaper reported on Wednesday, citing sources.
The idea has gained more popularity in recent times amid new obstacles faced by the US and the EU governments in attempts to
send money of their taxpayers to Ukraine, the newspaper said.
However, there are still certain financial and legal challenges preventing the Western authorities from
confiscating Russia's resources. In particular, the United States and the European Union are concerned over the possible loss of trust from other governments keeping their money in Western banks, the news agency stated.
Moreover, there are special constitutional norms forbidding the White House to confiscate anyone's money unless the country is involved in war with the United States, US lawyers told the newspaper.
The EU member states have reported having more than 200 billion euros ($211 billion) of
Russian central bank's assets frozen in their banks. Moreover, EU banks are holding 24.1 billion euros of assets belonging to individuals and private entities.
11 September 2023, 14:12 GMT
Earlier this year, EU representatives, commissioners and legislators started discussing a legal framework that would enable confiscation of assets of Russian citizens and entities accused of violating
EU sanctions. However, no concrete steps have been taken in this regard so far.
Moscow has on many occasions said that any attempts to
confiscate frozen Russian assets are an expropriation of property and a violation of international law. Kremlin spokesman Dmitry Peskov told Sputnik that Russia would do everything possible to return the seized assets.
