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U.S. Treasury secretary would expropriate Russian assets, give them to Ukraine

Section: Daily Dispatches

Yellen Urges World Leaders to 'Unlock' Frozen Russian Central Bank Assets and Send Them to Ukraine

By Fatima Hussein
Associated Press, New York
Tuesday, February 27, 2024

WASHINGTON -- Treasury Secretary Janet Yellen on Tuesday offered her strongest public support yet for the idea of liquidating roughly $300 billion in frozen Russian central bank assets and using them for Ukraine's long-term reconstruction.

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"It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine's continued resistance and long-term reconstruction," Yellen said in remarks in Sao Paulo, Brazil, where Group of 20 finance ministers and central bank governors are meeting this week.

"I believe there is a strong international law, economic, and moral case for moving forward. This would be a decisive response to Russia's unprecedented threat to global stability," she said. ...

... For the remainder of the report:

https://apnews.com/article/yellen-russia-ukraine-war-central-bank-finance-85e080fd78e9d37951e1e7dcd58fdc87

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