The Group of Seven leading industrial nations and the EU are considering a proposal to use more than $250 billion in frozen Russian central bank assets as collateral to help fund the reconstruction of war-torn Ukraine, according to a report on February 4 by Bloomberg News, which cited people familiar with the matter. Under the proposal, Ukraine’s allies could sell debt to contribute to the reconstruction of the country. Frozen assets would be used as collateral. Proponents argue that any eventual settlement to the conflict under international law will find Russia liable to pay for the damage it has caused. Should Russia refuse, claims could be made on the frozen assets, proponents said.
Report: G7, EU Consider Plan To Use Frozen Russian Assets As Collateral To Help Rebuild Ukraine
The proposal looks at using more than $250 billion in frozen Russian central bank assets as collateral to help fund the reconstruction of war-torn Ukraine. (file photo)