Public announcements from G7 meetings or official press releases

U.S. and G7 Explore Confiscation, Use of $300B Frozen Russian Assets for Ukraine Aid

Apr 17, 2024, 11:26 PM

U.S. Treasury Secretary Janet Yellen and Deputy Secretary Wally Adeyemo have highlighted ongoing efforts by the U.S. and its G7 allies to leverage nearly $300 billion in frozen Russian assets to aid Ukraine. These efforts include exploring possibilities for using these assets as collateral for loans or even considering their confiscation. Yellen expressed concerns that debates over Ukraine aid might encourage Russia. The G7 has expressed a commitment to retain these assets and is working on all possible avenues to support Ukraine, including a proposal welcomed by the EU to direct revenues from these assets for Ukraine's aid.