Biden: the plan for using the frozen assets of the Russian Federation must be ready

The US president hopes that the G7 countries will draw up a plan to transfer frozen Russian assets to Ukraine by June.

The frozen assets of the Russian Federation must be used to finance the budgetary needs of Ukraine, and then for its recovery, Bloomberg sources said , citing US President Joe Biden.

At the same time, as reported, the use of Russian frozen funds does not replace the necessary assistance to Ukraine.

According to Bloomberg sources briefed on the recent talks, Biden privately warned allies that if Ukraine loses the war, the international order will be disrupted for at least half a century.

As noted, representatives of the G7 countries are discussing options for using $280 billion of frozen assets of the Central Bank of the Russian Federation. The US president expects the G7 countries to make progress on the issue before the G7 leaders’ summit in June in Italy.

Previously, USM wrote that Ukraine coordinated the process of confiscation of Russian assets with partners.

Read also: The Cabinet approved the sale of Medvedchuk’s arrested yacht.