Ukraine’s allies are looking for ways to squeeze money out of frozen Russian assets and use the money to help Ukraine fend off Russia’s invasion. The Russian central bank holdings were kept outside the country, and Western countries quickly froze them after the February 2022 invasion. Many Ukraine supporters want to confiscate the $260 billion […]
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Allies debate how to squeeze cash for Ukraine out of frozen Russian assets
Ukraine’s allies are looking for ways to squeeze money out of frozen Russian assets and use the money to help Ukraine fend off Russia’s invasion. The Russian central bank holdings were kept outside the country, and Western countries quickly froze them after the February 2022 invasion. Many Ukraine supporters want to confiscate the $260 billion to make Russia pay for the widespread damage in Ukraine, and to keep Ukraine going in the fight. Europe, where most of the money is held, has balked at confiscating the funds outright over legal concerns.