The U.S. is mulling a plan to give $300 billion in frozen Russian assets to Ukraine that Kyiv could use for a variety of purposes, including reconstruction.
There is opposition to the plan, mostly from EU countries that still have companies operating in Russia. There are also serious questions about the legality of seizing sovereign assets and what kind of risk the group would be running as far as destabilizing the world economy.
Some of the Russian assets are very liquid—assets such as major currencies, gold, and government bonds, about half of which are held in the West.
“Total Russian foreign currency and gold reserves totaled $612 billion at the time,” according to Reuters .But taking the assets may not work out quite the way the U.S. and its allies think. Russian officials have repeatedly warned that the state confiscation of assets goes against all the principles […]
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