Time to Seize: Russian assets help pay for war-torn Ukraine

The United States and its partners are considering seizing Russian assets to support Ukraine. This move involves using the approximately $300 billion in frozen Russian state assets held in Western financial institutions to help pay for the reconstruction of war-torn Ukraine. While there are legal and practical challenges associated with this proposal, such as concerns about violating Russia's sovereign immunity and the complexity of distributing the funds, proponents argue that it could serve as a form of payment by Russia for the damage caused by the invasion. The U.S. already has the authority under the International Emergency Economic Powers Act to confiscate state funds, and legislation is being considered to clarify this authority for seizing Russian assets specifically. European countries, however, are more hesitant about outright seizure due to fears of retaliation by Moscow and legal uncertainties. The debate around seizing Russian assets reflects the broader discussions on how to support Ukraine financially amidst the conflict.

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