US Treasury says no legal issues in using frozen Russian assets for Ukraine
US Treasury says no legal issues in
using frozen Russian assets for Ukraine.
International news Desk
According to global times news agency Europe,The US Treasury Department has stated that there are no legal issues with using revenues generated from frozen Russian assets to provide Ukraine with a $50 billion loan.The global times Europe media, that Treasury Secretary Janet Yellen firmly rejected accusations from Russian President Vladimir Putin, who claimed that using revenues from Russian state assets to benefit Ukraine was tantamount to theft.This is by no means theft, Yellen clarified, adding that the Russian assets remain in this institution, they are immobilized.According to her, the term of the Russian investments has already expired. Russia’s money is in the form of cash, but it accrues income for the institution, to which Russia has no rights, she said.The Treasury Secretary further explained that nearly $200 billion in immobilized Russian state assets will remain frozen in a Belgian financial institution, which is earning income from these funds.The European Union has already agreed to transfer the revenues from these frozen Russian assets to Ukraine, with estimates suggesting the amount could be around $3 billion per year.
