U.S. senators urge Trump to transfer Russian assets to Ukraine

U.S. senators urge Trump to transfer Russian assets to Ukraine

Politics

A group of Republican and Democratic U.S. senators is pushing President Donald Trump's administration to transfer - and push allies to transfer - more than $300 billion of seized Russian assets to help Ukraine, not just use the debt's interest to support Kyiv.

That is according to Reuters, CE Report quotes Ukrinform.

"How does the Administration view using all financial tools at its disposal to increase pressure on Russia to end the war?" the senators asked in a letter sent to Secretary of State Marco Rubio and seen by Reuters on Monday.

"Specifically, does the Administration believe that U.S. and EU-held assets should be used as leverage in negotiations with Russia to bring an end to the war? If so, how?" the letter asked.

In their letter, the senators asked if the administration intends to develop a strategy to encourage the EU, G7 and other allies to leverage sovereign Russian assets. They also asked if the administration would support Ukraine using Russian sovereign assets under U.S. control to purchase defense equipment.

The letter was signed by Republicans Todd Young and Lindsey Graham, and Democrats Richard Blumenthal and Tim Kaine.

Members of the U.S. Congress have been calling for years for seized Russian assets to be used to rebuild Ukraine, both to avoid spending more American taxpayer dollars on the conflict and to put pressure on Moscow to reach a peace deal.

After Russian President Vladimir Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia's central bank and finance ministry, blocking $300-$350 billion of sovereign Russian assets.

They are mostly European, U.S. and British government bonds held in a European securities depository. Sources said only about $7 billion is held in U.S. financial institutions.

European and U.S. officials have agreed to use windfall profits from interest on the frozen Russian assets to back loans to Ukraine, but not the assets themselves.

Tags

Related articles

EU Approves €1.9B for Moldova's Growth
On May 9, Moldova is set to sign its largest-ever financial agreement with the European Union, as Prime Minister Dorin Recean and EU Enlargement Commissioner Marta Kos formalize a €1.9 billion Economic Growth Plan.
Romania and Moldova to Create Joint Visual Archive
On May 6, Romania and Moldova signed a Joint Declaration of Cooperation in Bucharest to create a Romania–Moldova Joint Visual Archive.
Türkiye, Iraq Launch Key Road Project
At a joint press conference in Ankara, Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Mohammed Shia al-Sudani highlighted the strategic importance of the Türkiye-Iraq Development Road Project.
Greece Reaffirms Support for Cyprus
During an official visit to Cyprus on Thursday, President of the Hellenic Parliament, Constantine Tassoulas, addressed the House of Representatives, emphasizing Greece’s unwavering support for a just and lasting resolution to the Cyprus issue.
Patriarch Bartholomew Visits Athens
Prime Minister Kyriakos Mitsotakis welcomed Ecumenical Patriarch Bartholomew to the Maximos Mansion on Thursday during the Patriarch's visit to Athens, marking the 150th anniversary of the Church of Aghios Nikolaos.
CEC Accredits 21 Observers for Local Elections
Moldova's Central Electoral Commission (CEC) has accredited 21 national observers to monitor the local elections scheduled for May 18, 2025.
Greece Targets Campus Violence
The Greek government is firmly committed to tackling delinquency on university campuses, Deputy Prime Minister Kostis Hatzidakis said in an interview with ERT1 on Thursday.