Finance Ministers of US and UK discuss joint actions aimed at stripping Russia of income
Pravda Ukraine
Janet Yellen, Secretary of Treasury of the US, discussed with her UK counterpart Jeremy Hunt the aid for Ukraine in the war of aggression started by Russia. The officials brought it up on the sidelines of the meeting of the International Monetary Fund (IMF) and the World Bank in Morocco.
Source: European Pravda with reference to the US Department of the Treasury
They have discussed joint actions aimed at depriving Russia of income for financing its brutal war against Ukraine.
“The sides have also stressed the importance of collective support of Ukraine’s needs in the financial aid,” the statement reads.
Earlier, it was reported that the UK government has turned to the Bank of England with a request to consider the possibility of using Russian sovereign assets for financing Ukraine’s military efforts against the full-scale aggression of Russia.
As it is known, the EU and the US are studying ways of using the frozen assets and increasing the efficiency of sanctions against Russia.
The Russian Elites, Proxies and Oligarchs workgroup created upon the initiative of G7 has counted US$280 billion worth of frozen Russian sovereign assets, and this sum will be specified within the course of the next few months.
The problem with using the sovereign Russian assets is that legally they belong to the state and, unlike private assets, no mechanism for their confiscation exists. As is known, the US is working with European partners on creating the necessary legal basis for using the confiscated Russian assets for the rebuilding of Ukraine.
Before that Belgium announced that it had created a special fund for supporting Ukraine worth €1.7 billion which is being filled from taxing the Russian assets frozen in the country.
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