FRANKFURT, Germany — Finance officials from the Group of Seven (G7) rich democracies said they had moved toward agreement on a US proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But the ministers left a final deal to be worked out ahead of a June summit of national leaders.
FRANKFURT, Germany — Finance officials from the Group of Seven rich democracies said they had moved toward agreement on a US proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But the ministers left a final deal to be worked out ahead of a June summit of national leaders.
Citing legal concerns, European officials have balked at outright confiscating the money and handing it to Ukraine as compensation for the destruction caused by Russia.Instead, they plan to use the interest accumulating on the assets, but that's only around $3 billion a year — about one month's financing needs for the Ukrainian government.US Treasury Secretary Janet Yellen is pushing for borrowing against the future interest income from the frozen assets.
Agree On Next Moves On Seized Russian Assets
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