US "shoots" message to Moscow, Europe has a worry, Kremlin criticizes

The clock is ticking down as President Joe Biden’s administration turns over the keys to a new government , and he is making a final push to seize hundreds of billions of dollars in Russian assets, according to two senior administration officials.

Ukraine 'disposes' of frozen Russian assets, sees them as the main source of reconstruction funds; EU still hesitates with a safe solution. (Source: Getty Images)

Top Biden aides have been trying to convince European partners to support transferring some $300 billion in Russian assets frozen in Western countries into a new escrow account.

A senior US administration official told CNN that the asset seizure was intended to send a simple message to Moscow: "If Russia wants its money back, it has to come to the negotiating table."

Senior Biden officials have consulted closely on the idea with President-elect Donald Trump’s national security team, who have generally supported the strategy and believe the seized funds could give Russia new incentive to negotiate with Ukraine.

But Europeans have been less than enthusiastic about the idea, raising concerns about violating international law. For more than a year, U.S. officials have been trying to allay those concerns and find ways to use Moscow’s frozen funds in ways that could benefit Ukraine.

A deal agreed by G7 nations and the European Union last year would use the interest accrued on frozen funds to lend Ukraine $50 billion, to be repaid with investment profits over a decade.

Of this, the EU will contribute about $19 billion, the US has pledged to provide $20 billion, the rest will come from the UK, Canada and Japan. And the European side is still skeptical about whether Mr. Trump will accept this deal.

The world's largest economy transferred $20 billion to the World Bank (WB) in December 2024. However, only $1 billion was disbursed by the WB to Ukraine.

The Kremlin has repeatedly criticized the freezing of their assets.

“This money was stolen from us. This is completely illegal, in violation of all norms and rules,” Kremlin spokesman Dmitry Peskov told reporters in December 2024.

He also announced that Moscow will take appropriate legal action against individuals involved in the decision to seize Russian assets in the West.

Source: https://baoquocte.vn/tai-san-nga-bi-phong-toa-my-ban-thong-diep-toi-moscow-chau-au-co-mot-noi-lo-dien-kremlin-chi-trich-301148.html