US and EU look for legal grounds to transfer $300 billion of Russian assets to Ukraine – Blinken

The US and European partners are studying the legal basis for using about US$300 billion of frozen Russian assets to restore Ukraine.

Source: statement statement by US Secretary of State Antony Blinken during a conversation at the University of Texas at Austin on Wednesday, 4 October

Quote from Blinken: "My own view is you broke it, you bought it. And so the Russians having broken it, they ought to pay for it. And one way to do that would be through the use of these assets. We have to make sure that there is a legal basis to do that. And as I said, since most of the assets are in Europe, Europeans also have to be convinced that there’s a basis to do it."

Details: Blinken said the amount of frozen assets was US$300 billion.

Blinken also added that if Russia is allowed to do what it is doing with Ukraine and does not receive any punishment, it will send a signal around the world to countries that are going to start aggression that they can get away with it. "It’s opening a Pandora’s box of conflict. And in that kind of world, a world of conflict, a world of aggression, that’s not going to be good for anyone".

Blinken believes that in this world, the US would always be drawn into a conflict, and it would be much more expensive than supporting Ukraine.

The US Secretary of State also emphasised that 50 countries actively support Ukraine.

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