President Biden wants the G7 countries to develop a plan to eventually have Russia’s frozen sovereign assets handed over Ukraine in order to support the war effort, Bloomberg has reported. Bloomberg’s source have also said the US president has privately warned allies that Ukraine’s collapse, and a Russian victory, would signify the international order is effectively destroyed for at least the next half-century.
” G-7 officials have been discussing options to use the $280 billion of immobilized Russian Central Bank assets , including using the money as collateral to raise debt or issuing guarantees against the frozen funds, said the people, who spoke on the condition of anonymity,” according to the report . Biden reportedly wants a firm plan proposed by the time of the Italy G7 summit in June. The US has been working behind the scenes to build consensus. Via AP The UK and Canada are reportedly on […]
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