White House Supports Seizing russian Assets in Favour of Ukraine

The administration of US President Joe Biden supports a draft law that will allow the confiscation of about $300 billion of frozen russian assets and send these funds to the reconstruction of Ukraine.

This is reported by Bloomberg with reference to the memorandum of the National Security Council to the Senate Committee on Foreign Affairs.

“The bill will provide the executive branch with the authority necessary to confiscate russian sovereign assets for the benefit of Ukraine,” the US National Security Council memorandum says.

It is noted that the White House wants to coordinate this step with allies from the G7, in particular in Europe, where about $200 billion of frozen assets of the russian federation are kept.