Ukrainian authorities will not be able to receive all the funds at once if the Western countries decide to confiscate frozen Russian assets, reported ag. Reuters, citing a senior US Treasury official.
According to him, the West is considering all options for dealing with the frozen Russian assets. As the interlocutor of the agency noted, one of the most promising proposals under consideration is for the Group of Seven (G7) countries to use interest on frozen Russian assets as collateral for loans or bonds issued to help Ukraine. The source declined to explain which option is most likely, noting that the final decision will be made by the leaders of the G7 countries. He said previous actions - including asset freezes - also looked unlikely several months before they were implemented.
As the Ukrainian Minister of Finance Serhiy Marchenko said ag. Reuters, he will meet with German Finance Minister Christian Lindner and other G7 officials this week to discuss further steps on Russian asset freezes. According to a representative of the Ministry of Finance, the consultations will continue this week, but no serious results are expected.
The European Commission earlier approved a proposal to use the proceeds of blocked Russian funds to provide aid to Kiev. As the High Representative of the EU for Foreign Affairs and Security Policy, Josep Borrell, said, this initiative provides for the transfer of 90% of the revenues of the Russian Federation for the purchase of shells for Ukraine and the transfer of 10% to the EU budget for subsequent support of Ukrainian military- industrial complex. The first deductions can be made already in July.
The head of the Central Bank of the Russian Federation, Elvira Nabiulina, said that the Bank of Russia, if the West uses frozen Russian assets, will take appropriate measures to protect its interests.