Asset confiscation to become significant channel for holding Russia accountable
Deputy Spokesperson of the U.S. Department of State Vedant Patel (photo: Getty Images)
Deputy Spokesperson for the U.S. State Department, Vedant Patel, has disclosed that the United States, in collaboration with its partners, is actively working on the freezing of Russian assets for subsequent transfer to Ukraine, according to his statement during a press briefing.
It is noted that the arrest of Russian frozen assets and their redirection to aid Ukraine is an ongoing matter that the United States, the Group of Seven (G7) countries, and other partners are actively working on.
A representative from the U.S. State Department added that this process involves addressing many complex issues, considering the necessity of adhering to international law and the national legislation of countries.
"But we have no doubt that this could become an important channel to hold the continuable Russian Federation accountable," stated Patel.
Transfer of Russian assets to Ukraine
Earlier, it became known that the United States proposed to the Group of Seven (G7) countries to confiscate $300 billion of frozen Russian assets for the benefit of Ukraine. The relevant plan aims to be agreed upon before the second anniversary of Russia's invasion of Ukraine.
On January 11, it was reported that the White House supported legislation that would allow the confiscation of approximately $300 billion from frozen Russian assets and allocate these funds for the reconstruction of Ukraine.
The EU's Chief Foreign Policy Official, Josep Borrell, stated that European Union ambassadors would approve the use of proceeds from frozen Russian assets for the benefit of Ukraine on Wednesday, January 24.
