US backs EU using frozen Russian assets to help end war, US source says
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A Ukrainian serviceman on the front line near Chasiv Yar, Ukraine, on Oct 28.
PHOTO: EPA
Follow topic:
- US supports the EU plan to use up to €185 billion of frozen Russian assets to aid Ukraine and pressure Russia to end the war.
- The EU proposal faces delays due to concerns in Belgium, where most of the €210 billion in frozen assets are located. Germany suspects Russian interference.
- The US sanctioned Rosneft and Lukoil, signalling intent to increase financial pressure on Russia and is considering further actions.
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WASHINGTON - The United States fully backs the European Union using frozen Russian assets as a tool to support Ukraine and end the war with Russia, a US source familiar with the situation told Reuters on Nov 7.
As the West seeks to ramp up pressure on Moscow, the European Commission has proposed a plan
Washington “absolutely supports (the EU) and the steps they’re taking right now to be in a position to make use of those assets as a tool”, the source said, requesting anonymity to discuss an ongoing issue.
After Russian President Vladimir Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia’s central bank and finance ministry, immobilising around US$300 billion (S$390 billion) of sovereign Russian assets.
The European proposal is being held up due to concerns from Belgium,
Germany suggested on Nov 7 that recent drone sightings a message from Moscow
Moscow has denied any connection to the incidents and has promised a “painful response” if its assets are seized.
In a renewed attempt to end Russia’s war, US President Donald Trump hit Rosneft and Lukoil, its two biggest oil companies, with sanctions
The move underlined Washington’s intent to squeeze Russia’s finances and force the Kremlin towards a peace deal in its three-and-a-half-year-old full-scale invasion of Ukraine.
Washington is watching the fallout from the Rosneft and Lukoil move and “there are more things we could do to try to up the pressure”, the source said. REUTERS
