US says confiscation of frozen Russian assets will take time

Confiscating frozen Russian assets will require a collective decision from all countries where such assets exist and will take time.

Source: Penny Pritzker, the US Special Representative for Ukraine’s Economic Recovery, during a speech at the World Economic Forum in Davos, as reported by Ukrinform

Quote: "I think if a decision is made, it will be a collective decision," Pritzker said. 

She stated that the issue of confiscating assets will be resolved by all countries where Russian funds are located, and it also requires a legal basis. 

"But, in my opinion, considering this as a panacea or something that will happen quickly is wrong," she emphasised.

Background:

• The administration of President Joe Biden supports a bill that would allow it to seize a portion of the US$300 billion in frozen Russian assets to assist Ukraine. 
• Russia is preparing a lawsuit to thwart any attempts by the US or EU to confiscate part of the frozen assets of the Central Bank amounting to US$300 billion for Ukraine.

Support UP or become our patron!