Joe Biden Proposes Transferring Assets Seized from Russian Oligarchs to Ukraine

USA proposed on Thursday to use assets seized from Russian oligarchs to compensate Ukraine for damage caused by Moscow’s troops invading that country.

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The liquidation of these “kleptocratic” assets would allow the profits generated to be “transferred” to kyiv to “remedy the damages (caused to Ukraine) for the Russian invasion,” the White House said in a statement.

This proposal, which marks a hardening of Washington’s position against to Moscow, will be accompanied by new military aid to kyiv that would be announced this Thursday by the US president Joe Biden.

The United States has already provided more than $3 billion in weapons to Ukraine since the beginning of the Russian invasion, on February 24. The White House is now seeking to obtain sufficient funding from Congress to be able to extend that assistance through October.

European Union countries have so far seized more than $30 billion in Russian assets, of which $7 billion is luxury goods belonging to oligarchs (yachts, works of art, real estate and helicopters), the White House said.

On your side, USA it has “sanctioned and blocked ships and planes worth more than $1 billion, and frozen hundreds of millions of dollars held by Russian elites in US accounts.”

Biden will speak on Thursday at 10:45 a.m. (2:45 p.m. GMT) to express support for Ukrainians against “Russia’s brutal war,” the US presidency added.

Source: Elcomercio

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