NYT: U.S. moves more aggressively to seize Russian assets for Ukraine amid congressional impasse

US President Joe Biden’s administration has stepped up efforts to seize some $300 billion in sovereign Russian assets frozen on Western territory, trying to make up for the impossibility of appropriating additional funds in Congress.

This is what the “European truth” means The New York Times.

Despite the fact that the United States previously categorically opposed the confiscation of sovereign assets of the Central Bank of the Russian Federation, now the White House in the “Group of Seven” has begun to more seriously discuss whether to use existing powers to use these funds. Should it shift to Congress?

According to NYT correspondents, the United States is pressing Great Britain, France, Germany, Italy, Canada and Japan to prepare a strategy for the use of sovereign rockets by February 24, 2024 – the second anniversary of the Russian Federation’s full-scale invasion of Ukraine.

FT: US says it has legal recourse to seize Russia’s frozen assets

The newspaper says that Biden has not yet definitively endorsed such an option.

Sources from The New York Times point to several issues the G7 has yet to resolve. Among other things, it concerns whether the confiscated assets will be sent directly to Ukraine for its benefit in another way.

Another critical moment is whether these funds will be used only for the reconstruction of Ukraine and its budgetary support, or directly for military efforts. Additionally, Moscow could take retaliatory measures, including lawsuits and confiscation of glass, as this scale of confiscation of sovereign assets would be unprecedented.

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As the NYT writes, related discussions gained even more urgency after the US Congress failed to approve additional funding for Ukraine by the end of the year. Even if the funds are eventually approved, the White House needs alternative funding for Kiev to prevent similar situations.

The OP expects to receive up to $15 billion annually in revenue from seized assets of the Russian Federation

Earlier, US officials considered the seizure by US officials to sit at the negotiating table with Ukraine and force the Russian Federation to end hostilities. But Moscow is not interested in such negotiations.

According to the report, the European Commission on December 12Accepted the offer On December 14, the European Council took note of the legislative act on the use of revenues from frozen Russian assets for the reconstruction of Ukraine.

read more: How to Collect Compensation for Losses from the Russian Federation: Challenges for Ukraine and the West.

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