US and its partners consider ways to use Russia's frozen assets for Ukraine

The United States and its allies are continuing to consider ways of using Russia's blocked assets to help Ukraine. 

Source: Brent Neiman, Assistant Secretary for International Finance at the US Department of the Treasury; Interfax-Ukraine 

Quote: "Ukraine’s G7 partners are also working hard in response to their Leaders’ declaration to look at "all possible avenues by which immobilised Russian sovereign assets could be made use of to support Ukraine," Neiman said in a statement posted on the US Treasury website. 

Neiman recalled that earlier EU countries had approved a plan to use revenues from the Russian Federation's frozen assets to help Ukraine. 

"We are now making progress with our partners in considering ways to build on this to deliver an even larger amount of funds to Ukraine right now," Neiman said. 

Background:

• The G7 finance ministers have supported providing Ukraine with a loan secured by profits from frozen Russian assets to ensure funding for Kyiv after 2024.

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