‘No consensus’ in West on seizing Russian assets – WaPo — RT World News

The European Union is concerned that the move could violate international law and lead to a violent reaction, according to reports.

European Union officials are reluctant to bow to US pressure and move frozen Russian assets to Ukraine, fearing that Moscow's retaliation would primarily target the bloc and not America, the Washington Post reported on Saturday.

As part of unprecedented sanctions due to the conflict in Ukraine, Western countries froze about $300 billion in Russian assets in a move condemned by Moscow. “theft,” Many Western officials indicated that the money could be used to help Ukraine. The bulk of this amount is located in European countries, while the United States has only about $6 billion.

In recent months, there have been several proposals on how these funds could be used to help Ukraine. While the United States pushed for the more extreme option of seizing the funds outright, the European Union proposed using profits generated from the assets to help Ukraine. Another option under discussion is to use the assets as collateral to secure loans to Kiev.

According to the newspaper, European Union officials are reluctant to confiscate Russian assets due to concerns that this step “It could violate international law, discourage investors from trusting the euro and invite Russian retaliation.”

They also opposed the US proposal to seize the funds because Europe holds most of the frozen assets Any Russian retaliation would likely fall on Europe, not the United States.”

According to an unnamed US Treasury Department official, both the European Union and the United States agree on this He added: “More efforts must be made for Ukraine, but there is no consensus on the details.” He added that “We think of Russian sovereign assets as a sustainable medium to long-term solution to this financing problem.”

The report comes as the US House of Representatives passed the Rebuilding Economic Prosperity and Opportunity for Ukrainians (REPO) Act on Saturday, which could allow US President Joe Biden's administration to seize Russian assets in US banks and transfer them to Ukraine for reconstruction.

Kremlin spokesman Dmitry Peskov warned that Russia would not leave a potential seizure unanswered, adding that the move could undermine the principle of the prohibition of nuclear weapons. “The inviolability of private property…and state property” As well as causing “Irreversible damage to the image of the United States.”

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