The US cannot legally confiscate funds for the reconstruction of Ukraine, US Treasury Secretary says
US Treasury Secretary Janet Yellen said on Wednesday that it would not be legal for the United States to seize frozen Russian central bank assets to help rebuild Ukraine.
Yellen was referring to an estimated $300 billion in assets from Russia’s central bank that have been blocked by the United States and its allies as part of their sanctions over Moscow’s military operation in Ukraine.
There have been discussions lately among Western allies on how to finance Ukraine’s long-term reconstruction and whether the frozen Russian assets could play a role.
“I think it’s very natural that given the enormous destruction in Ukraine, and huge rebuilding costs that they will face, that we will look to Russia to help pay at least a portion of the price that will be involved,” Yellen told reporters.
She, however, added: “That said, while we’re beginning…