Bessent opposes immediate confiscation of Russia’s frozen assets: Here’s why
Photo: Scott Bessent, US Treasury Secretary (Getty Images)
US Treasury Secretary Scott Bessent believes that frozen Russian assets should continue to be used as leverage in negotiations with Moscow, the US Treasury head made this statement in a comment to Fox Business.
"On the frozen Russian assets, I think that's all part of the negotiation with President Putin. So I don't think we should seize them immediately. It is a chip on the table during this big negotiating process," Bessent said.
He also did not rule out that part of these assets — or even all of them — could go toward Ukraine’s reconstruction.
The Treasury Secretary added that the US needs more serious support from European partners regarding sanctions pressure on Russia. According to Bessent, Europe has shown no interest in joining potential secondary tariffs against Russia. Among all G7 members, only Canada has expressed readiness for such measures.
"The US should not be expected to shoulder this alone. This war is in their backyard. They have a vested interest in ending it — just like we do. And President Trump is the only one who has created a forward motion on this, and the US people should
not be expected to shoulder all the burden. So the 400-whatever million people in the EU who want this to end should also be part of the solution," he noted.
Belgium opposes the confiscation of Russian assets
Earlier, Belgian Prime Minister Bart De Wever stated that he does not support the confiscation of frozen Russian assets, most of which are held in the Belgian depository Euroclear.
According to him, from a legal standpoint, implementing such an initiative would be difficult.
