As much as $300 billion in Russian assets, frozen in the West since the invasion of Ukraine, is piling up profits and interest income by the day. Europe and the United States are considering how to use those gains to aid the Ukrainian military as it wages a grueling battle against Russian forces. There has been a debate for months about whether it would be legal or wise to confiscate the frozen assets altogether. The idea of confiscation appears dead for now. But proposals to seize and use the profits earned on those Russian assets are gaining considerable ground. Both the Europeans and Americans believe that those profits could be used without raising the same legal challenges or risks to the global financial system. However, they have competing ideas on how to use the funds. The Europeans would like to transfer them to Ukraine yearly or every two years. The Americans want to find a way to get more money to Ukraine more quickly.
Read more: https://www.nytimes.com/2024/05/14/world/europe/russia-frozen-assets-ukraine.html
