Yellen Supports Seizing Russian Assets to Support Ukraine’s ‘Resistance’

The Treasury Secretary is unconcerned of the potential consequences.
Yellen Supports Seizing Russian Assets to Support Ukraine’s ‘Resistance’
Treasury Secretary Janet Yellen speaks during a demonstration while visiting the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024. Samuel Corum/Getty Images
Andrew Moran
Updated:
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Treasury Secretary Janet Yellen endorsed a proposal of liquidating frozen Russian assets to help fund Ukraine’s “continued resistance and long-term reconstruction.”

Following Moscow’s invasion of Ukraine in February 2022, the U.S. and its allies froze approximately $300 billion in Russian central bank assets. With the Eastern European conflict entering its third year, there are now discussions on potentially seizing the assets and funneling the proceeds to Kyiv.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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