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Kallas calls for confiscation of Russia's frozen assets before US elections

Kallas calls for confiscation of Russia's frozen assets before US elections Estonian Prime Minister Kaja Kallas (Getty Images)
Author: Maria Kholina

The West should seize frozen Russian assets ahead of the US elections, according to Estonia's Prime Minister Kaja Kallas.

This statement adds to European concerns about how a second term for Donald Trump could influence Western policy towards Russia and support for Ukraine.

"Elections are always turbulent times. It’s always better to do everything we can before important elections," Kallas said.

According to her, confiscating Russian funds would be an additional tool that, along with military aid to Ukraine and measures of political isolation against Russia, could help end the war.

"This is economic pressure we can place on the Russian economy to hasten the breaking point of this war," she said.

The prospect of Trump becoming the Republican candidate in the US presidential elections this year has alarmed many in Europe, especially after his remarks about telling Russia to do "whatever the hell it wants" with NATO countries that don't spend enough on defense.

Confiscation of Russian assets

At the end of last year, Western media reported that the US had proposed to the G7 countries to confiscate frozen Russian assets worth $300 billion for the benefit of Ukraine. The initiative was supposed to be agreed upon by February 24, 2024, but the matter is still being discussed among partners.

According to Deputy Minister of Justice Iryna Mudra, this year Ukraine expects the transfer of $4 billion from frozen Russian assets held in G7 and EU countries.