West exploring all options on frozen Russian assets – US official — RT World News

A US official told Reuters that even if Moscow's money was seized, Ukraine would not get it all at once

No option has been off the table as G7 countries continue to discuss the possibility of using Russian assets frozen by the West to help Ukraine, Reuters reported, citing a senior US Treasury official.

Washington and its allies have frozen about $300 billion in assets of the Russian Central Bank due to sanctions imposed in response to Moscow launching a military operation against Kiev in February 2022. About $200 billion of this money is in the European Union. The United States has insisted for months that international law allows the confiscation of funds, but Germany and France have expressed concerns that such a step could set a dangerous precedent.

An unnamed Treasury Department official told the agency on Tuesday that the fate of the frozen Russian assets will be discussed during the G7 foreign ministers' meeting, which is scheduled to begin in Capri, Italy, on Wednesday.

The source said that Western countries would study all available ways to use the funds to help Kiev, but he refused to specify the most likely option.

However, the official explained that even if the United States and its allies eventually decide to confiscate all of the Russian funds, Ukraine will not have the capacity to absorb the entire amount at once.

The official also warned that no major progress should be expected this week, as the final decision on the issue will be made by the leaders of the G7 countries.

Other informed sources told Reuters that one of… “Promising proposals” It was under consideration that the United States and its allies would confiscate interest accrued on the frozen Russian assets to use as collateral for loans or bonds issued to aid Ukraine.

Ukrainian Finance Minister Sergei Marchenko told Reuters that he would meet with his German counterpart Christian Lindner and other G7 officials this week to talk about Russian assets. He stressed that unity is needed within the G7 on whatever approach the group chooses.

Moscow has repeatedly said that seizing its money would amount to theft and would further undermine global confidence in the Western financial system. Russia also warned that it may reciprocate such a move by the United States and its allies, if necessary.

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