US starts urgent talks with allies on frozen $300 billion in Russian funds - The New York Times
The administration of U.S. President Joe Biden is "quietly signaling" support for the confiscation of more than $300 billion in frozen assets from the Russian Central Bank and has begun "urgent talks" with allies about using these funds to help Ukraine at a time when financial support is weakening.
This was reported by the American edition of the NYT, citing unnamed US and EU officials, Censor.NET reports with reference to LigaBusinessInform.
The journalists reminded that until recently, U.S. Treasury Secretary Janet Yellen had claimed that without congressional approval, the withdrawal of funds "is not something that is allowed by law in the United States."
However, now, according to the NYT, the Biden administration, in coordination with the G7, has begun to "take a fresh look" at whether it can use its authority or whether it should ask Congress to use the funds.
According to journalists' sources, talks between finance ministers, central bankers, diplomats and lawyers have intensified in recent weeks as the Biden administration "puts pressure" on the UK, France, Germany, Italy, Canada and Japan to develop a strategy by February 24, the second anniversary of Russia's full-scale invasion of Ukraine.
According to the NYT, Biden has not yet approved the strategy, and many details remain a subject of hot debate. Politicians must determine whether the money will be sent directly to Ukraine or used in other ways to benefit it.
Also, according to journalists, there are discussions about whether the money can be used only for reconstruction and support of Ukraine's economy, or whether it can be spent directly on military needs.
According to the NYT, the discussions have become even more urgent as Congress has failed to reach an agreement on additional funding for military aid to Ukraine by the end of the year.
