G7 moves closer to seizing Russian assets for Ukraine
The Group of Seven (G7) is moving closer to the possible confiscation of Russian assets for transfer to Ukraine, the Financial Times reported.
The United States, which had not previously publicly supported the idea of confiscation, told its G7 allies that it had found the funds to seize assets "in accordance with international law.”
Read also: European Commission eyes how to transfer €15 billion in frozen Russian assets to aid Ukraine
"G7 members may take action to confiscate Russia's sovereign assets as a retaliatory measure to end Russia's aggression," said the U.S. document, which was distributed to G7 committees.
The document suggests that Russia's invasion of Ukraine opens a "legitimate opportunity" to use asset forfeiture as a "legitimate response to states that have been seriously affected by Russia's violation of international law."
Washington expects the issue of confiscating Russian assets to be discussed at the upcoming meeting of G7 leaders scheduled for Feb. 24.
Read also: Ukraine begins talks on security guarantees with Italy, last of G7 countries to open negotiations
British Foreign Secretary David Cameron has previously suggested that there is a "legal mechanism" for confiscating Russian assets and offered to work with the United States on the issue if other allies are unwilling to take this step.
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