G7 Considers Using Frozen Russian Assets to Fund Ukraine's Reconstruction
The G7 and EU are discussing a plan to use over $250 billion in frozen Russian assets as collateral for financing Ukraine's recovery, amid legal challenges from Russia.
- G7 nations and the EU are contemplating a debt scheme utilizing Russian reserves as collateral to support Ukraine, facing opposition from Russia.
- Russia warns of legal actions against the seizure of its assets, claiming such moves would undermine the global economic system.
- The plan aims to finance Ukraine's reconstruction without directly tapping into the reserves, seeking a compromise among differing views within the G7 and EU.
- Some G7 countries, including France and Germany, have expressed concerns over outright confiscation due to legal and financial stability issues.
- The vast majority of the frozen assets are held by Euroclear, generating significant returns, as discussions on Ukraine's long-term needs continue.
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