Former Ukrainian PM calls for full transfer of frozen Russian assets to Ukraine

Arseniy Yatsenyuk
Arseniy Yatsenyuk

Frozen Russian assets should be fully confiscated and transferred to Ukraine, former Prime Minister and Kyiv Security Forum (KSF) founder, Arseniy Yatsenyuk, said at the KSF’s online discussion panel on May 17.

“All the threats that if the free world legally confiscates Russian assets, it may somehow affect the dollar or the euro do not deserve any attention,” Yatsenyuk stated. He argued that the real threat to these currencies is “the collapse of the Ukrainian state, the collapse of the leadership positions of the United States and the EU.”

Despite ongoing G7 sanctions, Moscow is reportedly spending about $120 billion annually on the war. Yatsenyuk emphasized the importance of political will and belief in a rules-based world order for addressing the situation.

He also responded to a joint statement by Russian President Vladimir Putin and Chinese President Xi Jinping, which harshly criticized attempts to confiscate Russian assets. Yatsenyuk viewed this as an attempt to blackmail the free world, challenging the resolve of the United States and European Union.

“There is a legal basis for confiscating assets due to the act of aggression against Ukraine, which should correlate with bringing Russia to justice,” he added.

In the U.S., legislative efforts are underway to address the frozen assets. The Senate Foreign Relations Committee approved a bill on January 24 that would facilitate the transfer of Russian assets to Ukraine for rebuilding infrastructure. Secretary of State Antony Blinken previously noted that the U.S. and EU were exploring legal means to redirect $300 billion in Russian assets towards Ukraine's needs.

Read also: U.S. aid to Ukraine will impact battlefield, says State Department

President Volodymyr Zelenskyy has mentioned that plans are being prepared for the transfer of these assets. Additionally, the U.S. House of Representatives passed Bill No. 8038 on April 20, which could result in nearly $8 billion being directed to Ukraine. This bill now awaits Senate approval.

On May 8, EU ambassadors preliminarily agreed to allocate revenue from frozen Russian assets to support Ukraine, reinforcing international efforts in this direction.

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Read the original article on The New Voice of Ukraine