European allies do not dare to confiscate frozen Russian assets, but have found a way to help Ukraine
About this write The New York Times.
At the G7 summit in Italy, the leaders of the participating countries found a way to indirectly use the frozen assets of the Russian Central Bank, amounting to about 200 billion dollars, kept in the Belgian financial company Euroclear.
Economic columnist Peter Coy in his column for The New York Times noted that although the West has imposed economic sanctions against Russia, Ukraine’s European partners do not dare to directly confiscate frozen assets.
Instead, a preliminary agreement was reached on a joint loan to Ukraine in the amount of 50 billion dollars for the war effort. The loan will be repaid with proceeds from frozen Russian assets.
Peter Coy called on the G7 to act as a united front on the issue of confiscating Russian assets, so that Russia and other potential aggressors cannot confront individual countries.
According to Italian Prime Minister Giorgia Meloni, the loan to Ukraine will be provided by the USA, Canada, Great Britain and, possibly, Japan.
