US Treasury Secretary Janet Yellen said that Russia must pay for the restoration of Ukraine. Washington is discussing with allies how to circumvent legal restrictions on the use of frozen Russian assets.
According to the American, the world community hopes that Moscow will “be held accountable” for its actions:
“We are discussing this with our partners, but there are our own legal restrictions on what we can do with the frozen Russian assets.”
Yellen added: The United States has begun to transfer to the Ukrainian side the capital that was confiscated from Russian individuals, but cannot yet do the same with the frozen state assets.
In March, a columnist for The New York Times Patricia Cohen explained the danger of confiscation of Russian assets in the US and Europe. According to her, such a decision could create problems for the global economy.
“Yellen and others argue that the seizure of Russian accounts could undermine confidence in the dollar, the most widely used currency for global trade and transactions. Foreign countries may be reluctant to keep money in US banks or make investments for fear of being confiscated.” Cohen stated.
She added that experts fear the risk of expropriation of European and American assets located in other jurisdictions. The journalist also recalled that Kyiv’s allies are experiencing difficulties with financial support, and the cost of restoring Ukraine will exceed the amount that even the wealthy United States and the European Union are ready to allocate.
In turn, the Prime Minister of Ukraine Denis Shmygal said that Canada plans to transfer funds from confiscated assets that belong to the Russian Federation for the defense and reconstruction of Ukraine.
2023-04-16 19:17:00
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