US wants to use $300 bln worth of Russia’s frozen assets to rebuild Ukraine

The United States is considering attracting frozen Russian assets to restore the destroyed Ukrainian infrastructure. 

Assistant Secretary of State for European and Eurasian Affairs, Victoria Nuland, announced this during the US-Ukraine Partnership Forum, Ukrinform correspondent reports.

Nuland said, "Discussions continue regarding roughly $300 billion in Russian Central Bank assets frozen by us and our allies."

The United States and its allies are now discussing how to attract the frozen $300 billion.

"Among other things, we're working to make Russia pay for what it destroyed," the representative of the US State Department emphasized, adding that the US Department of Justice, with the support of the US Congress, has new powers to use illegal assets confiscated from Russian oligarchs. It will be possible to involve them to help rebuild Ukraine.

"In February, we announced the first tranche of $5.4 million under this authority, and there will be more announcements later," Nuland noted.

In March 2022, President Biden's administration created the Task Force KleptoCapture based on the US Department of Justice.

Its main tasks include applying sanctions against Russian oligarchs and confiscating their ill-gotten assets in response to Russia's invasion of Ukraine.