According to the Financial Times, the United States has advised the G7 working group on how to confiscate $300 billion in Russian assets that have been frozen, hoping to reach a plan on the second anniversary of Moscow's invasion of Ukraine in February next year.
However, the European Union, which includes Germany, France, and Italy, has reservations about this, believing that it is necessary to assess its legitimacy first.
After Russia's invasion of Ukraine in February 2022 and the imposition of Western sanctions on it, the Russian central bank's foreign exchange reserves around 300 billion euros around the world were frozen.
There has always been a fierce debate in Western countries about this frozen Russian asset.
The Financial Times said on December 28 that the United States proposed how the Group of Seven (G7) working group would confiscate $300 billion in frozen Russian assets.
According to people familiar with the matter, the G7 and deputy leaders discussed this issue this month, about how to formulate such a policy and assess the risks involved.
The New York Times also quoted sources not long ago as saying that the United States has begun to discuss with its allies how to dispose of the 300 billion frozen Russian assets, and is weighing the use of this money to aid Kyiv.
The United States, with the support of the United Kingdom, Japan and Canada, has proposed to advance preparations to prepare options for a possible G7 leaders' summit around February 24 next year. February 24, 2024 marks the second anniversary of Russia's full-scale invasion of Ukraine.
The Financial Times reported that the three working groups proposed by Washington would study legal issues related to confiscation, ways to implement this policy and reduce risks, and options on how best to provide support to Ukraine.
Washington has so far not publicly supported the confiscation of assets.
However, according to the Financial Times, the United States privately circulated a document within the G7 this year, saying that the confiscation of Moscow's frozen assets should be legal as a "countermeasure to prompt Russia to stop its aggression."
The Ukrainian side has also repeatedly demanded the confiscation of Russian state assets and their provision to Ukraine for national reconstruction.