Europe

Europe

Blinken: U.S., Europe preparing legal framework for forwarding seized Russian assets to Ukraine

05 October 2023 09:21 (UTC +04:00)

The United States is working with European allies and partners to create the necessary legal framework for the use of confiscated Russian assets for Ukrainian reconstruction projects, said U.S. Secretary of State Antony Blinken during a speech at the University of Texas, APA reports citing Ukrinform.

"It’s about $300 billion, and most of it actually in Europe, not in the United States. So we’re looking at what legal authorities we may have, the Europeans may have, to actually use those assets for Ukraine," explained the U.S. secretary of state.

He emphasized that the Russians ought to pay for what they have damaged or destroyed in Ukraine. "And one way to do that would be through the use of these assets," Blinken noted.

At the same time, he emphasized the importance of efforts to create an appropriate legal framework to this end.

"Since most of the assets are in Europe, Europeans also have to be convinced that there’s a basis to do it," said the head of the US State Department.