USA to propose G7 mechanism for confiscation of frozen Russian assets
The USA will propose to the countries of the Group of Seven (G7) to develop a legal mechanism for confiscation of frozen Russian assets, Bloomberg reports with reference to a document with the American proposal, which came into the possession of the publication.
It is proposed to use these funds to finance the defense of Ukraine. This is about $300 billion, most of which is frozen in Europe.
According to the publication's sources, American officials discussed with their European colleagues the idea of gradual withdrawal of frozen assets to increase pressure on Moscow in order to force it to continue negotiations to end the war.
The United States also proposes that the G7 impose tariffs of 50% to 100% on China and India for buying Russian oil, impose sanctions on the Russian "shadow fleet," ban maritime insurance, and impose sanctions on organizations that support the Russian military industry, as well as regional banks. It is also proposed to ban the provision of artificial intelligence and financial technology services in special economic zones of the Russian Federation.