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White House: Biden suggests transferring confiscated Russian assets to Ukraine

Middle East

28-04-2022 | 10:42

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White House: Biden suggests transferring confiscated Russian assets to Ukraine

The White House suggested on Thursday to use assets that are confiscated from Russian oligarchs to compensate Ukraine for damages caused by Russia's invasion.

President Biden said in a statement that this would allow "the transfer of all proceeds from the looted assets to Ukraine to compensate for the damage caused to Ukraine by Russian aggression."

This proposal represents an escalation in the Western position against Moscow, and is expected to be accompanied by US President Joe Biden's announcement on Thursday, of a new large military aid package for Kiev.

The United States has provided Ukraine with weapons worth over $3 billion since the start of the Russian invasion on February 24. It is also seeking sufficient funding from Congress to be able to extend that assistance through October.

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