Rubio: US plans to discuss frozen assets with Russia after ceasefire

According to Rubio, the first step in resetting relations with Russia is to reopen embassies.

"Our embassy in Moscow barely functions at this point. We have great people working there, but they can’t function because the Russians have made life miserable, so we got to get that straightened out. I remind everybody that at the height of the Cold War, in the worst days of the Cold War, the Soviet Union and the United States still had a relationship," the Secretary of State stated.

Rubio added that the second step would be a dialogue with Russia.

"We have to invite them and say, ‘okay, are you guys serious about ending this thing? Let’s sit down and talk about it," he said.

The third step will be understanding what US-Russia relations will look like in the 21st century. Rubio believes that there are already opportunities for cooperation between the two countries.

"Obviously that’s going to entail talking about not just Russian assets that have been seized by the Europeans or the U.S. or whatever but also American companies that have been hurt...None of that is even possible, and we can’t even really talk about those things or fix those things until we bring this war to at least some sort of enduring ceasefire and hopefully permanent end," the Secretary of State noted.

Frozen Russian assets

After Russia's full-scale invasion of Ukraine, Western countries froze the assets of Russia. In total, they amount to approximately $300 billion.

So far, these assets have not been confiscated for the benefit of Ukraine. According to Politico, France, Italy, Germany, and Spain oppose such a move.

However, Reuters recently reported that Russia may agree to give up part of its assets for Ukraine’s reconstruction as part of a peace agreement.