Overview

• The Kremlin threatens to confiscate Western assets in Russia in response to potential sanctions, while pressuring its citizens through asset appropriation.
• The U.S. Senate Committee on Foreign Relations approves the REPO act, allowing frozen Russian assets to be allocated to Ukraine, prompting a tit-for-tat response from Moscow.
• Russia's Central Bank introduces measures to prevent fund withdrawals, as Western assets valued at about $288 billion remain trapped in Russian accounts.
• Ukraine's Foreign Minister insists on confiscating Russian assets to aid Ukraine's recovery, amid Western concerns over legal and financial system implications.
• The EU and Canada take steps towards using Russian assets to finance Ukraine's reconstruction, as the overall recovery cost reaches $486 billion.