Senators Call for Boosting Use of Frozen Russian Assets to Aid Ukraine
The U.S. and other Group of 7 nations should make greater use of the roughly $300 billion in Russian assets frozen in the West, Senate Foreign Relations Committee Chairman Jim Risch, R-Idaho, and three other senators said in a Feb.…
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18 statement. While the G7 agreed last year to use interest from those Russian assets to finance a $50 billion loan to Ukraine (see 2406140056), the senators said the allies should provide more much-needed support to Ukraine by confiscating the frozen assets or using them as collateral for another, larger loan. The Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which President Joe Biden signed into law in April 2024 (see 2404240043), authorizes the U.S. to repurpose its share of the frozen assets.