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G7 countries discussed transferring Russian assets to Ukraine
Feb 29, 2024
Some G7 countries cannot find a compromise on the transfer of frozen Russian assets.
This is reported by Reuters.
On Wednesday, French Finance Minister Bruno Le Maire denied the opinion of US Treasury Secretary Janet Yellen on the legality of monetizing about $ 300 billion of frozen Russian assets.
Le Maire said that France is convinced that there are no sufficient grounds in international law to proceed with the action and further work is needed.
"Any such moves should be fully underpinned by international law and required the support of all members of the Group of 20 major economies, which include Russia, China, and other countries that have been critical of the United States," Le Maire explained.
In late 2023, it was reported that the United States proposed to the G7 countries to confiscate $300 billion of frozen Russian assets in favor of Ukraine.
The plan was supposed to be implemented by the second anniversary of Russia's full-scale war against Ukraine. But this did not happen.
