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.
Editors' Picks
RFE/RL has been declared an "undesirable organization" by the Russian government.
If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.
To find out more, click here.