The United States supported the idea of ​​confiscating Russian reserves to help Kyiv

Washington supported the idea of ​​confiscating the full amount of Russian reserves stored in other countries and transferring them to Ukraine. How reported According to the Financial Times, European officials are not so decisive – they fear that such a move could violate international law and destabilize financial markets.

The US proposal involves lending tens of billions of euros to Ukraine, secured by future revenues from Russian state assets. We are talking about assets that were frozen by Western countries.

Members of the Big Seven, the G7 Group, have previously disagreed on how to deal with the €260 billion in Russian assets frozen by the West. The freeze was the West’s response to the Russian government for launching a full-scale invasion of Ukraine in February 2022.

In recent months, when the issue of additional US assistance to Ukraine was blocked in Congress, the need for a speedy solution became obvious.

Deputy adviser for international economics to US national security Dalip Singh said on Wednesday in Kyiv that the wait for a decision cannot continue for too long. “We must explore all possible ways to maximize the value to Ukraine of Russian immobilized reserves. We cannot wait” for immobilized reserves for Ukraine. We can’t wait. We can’t wait forever, we know that,” the senior US official said.

According to him, the US proposal provides for “the present value of the future interest flow from immobilized assets, either through bonds or through loans.”

Dalip Singh noted that the Europeans have already shown their readiness to transfer interest from reserves to Ukraine every six months. He added, however, that there are ways “to increase the value of these transfers over time.” As an example, Singh explained: “Instead of simply transferring annual earnings from reserves… it is conceptually possible to list 10-year earnings or 30-year earnings.”

The United States proposed its G7 allies to create a special fund that would issue bonds worth at least US$50 billion. These bonds will be backed by proceeds from frozen Russian state assets, and the proceeds will go to support Ukraine.