Currency
Russia "must pay to restore what Putin destroyed," Blinken said
The U.S. State Department has announced its intention to exercise the right to confiscate Russian assets. Currently, work is underway with partners from the G7 to direct the seized funds to compensate Ukraine for the damage caused by Russian aggression.
The statement was published on May 19 on the State Department's page on the social network X. "Congress has given us the authority to confiscate Russian assets in the United States, and we intend to use it," the post reads.
The ministry also quoted Secretary of State Anthony Blinken as saying that Russia "must pay to rebuild what Putin has destroyed."
Mr. Blinken also said that he is working with his G7 partners in this regard:
"We are working with our G7 partners to ensure that Russia's immobilized sovereign assets are used to compensate for the damage that Putin continues to inflict on Ukraine."
As reported by OBOZ.UA:
- Recently, Estonia became the first country in the world to allow the use of assets of Russian citizens frozen by sanctions for the restoration of Ukraine. 65 deputies voted for the adoption of the relevant law, three voted against.
- Penny Pritzker, the U.S. Special Representative for Ukraine's Economic Recovery, said earlier that the confiscation of Russian assets requires a collective decision by all countries that have frozen them in their financial institutions. Therefore, we should not expect this to happen quickly, she explained.
- The IMF said that decisions to confiscate Russian assets should be made by the relevant authorities of the countries where they are located. They promised to monitor developments to assess the impact on the international financial system.
- A court in Russia has frozen millions of dollars in assets of Germany's Deutsche Bank, Commerzbank and Italy's UniCredit at the suit of RusChemAlliance, a joint venture of Gazprom. The decision was part of a broader legal conflict caused by EU sanctions and the termination of contracts with European companies.
- The Italian government will convene a meeting to discuss the situation.
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