Finance ministers clash over seizing Russian assets, creating divisions.

February 28, 2024
1 min read


Divisions among finance ministers over seizing Russian assets have come to light, with France’s finance minister arguing against it while the US Treasury secretary sees it as a possibility. The debate centers around the legality of using Russia’s frozen assets to support Ukraine.

Article Summary:

Divisions among the world’s economic officials have emerged on the issue of using Russia’s central bank assets to aid Ukraine, with France’s finance minister, Bruno LeMaire, stating that seizing the assets would violate international law. This comes after US Treasury Secretary Janet Yellen expressed support for seizing the assets, citing legal justification. The debate, taking place at a Group of 20 nations meeting in Brazil, focuses on the possibility of using over $300 billion in frozen Russian assets to assist Ukraine amidst waning political support for continued aid. While Yellen has recently shown support for unlocking the value of Russia’s assets, LeMaire has raised concerns about legality. The discussions highlight the complexity of international relations and the moral, economic, and legal implications of the situation.

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