Washington Proposes Freezing Russian Assets in US-Controlled Vehicle
United States negotiators proposed transferring a portion of frozen Russian sovereign assets into a Washington-controlled financial structure to restart stalled peace negotiations, pravda.com.ua reported.
Steve Witkoff and Jared Kushner presented the plan to international counterparts. Western allies froze roughly €260 billion in Russian central bank assets following Moscow’s 2022 invasion, with the vast majority held inside the European Union through institutions such as the Belgian depository Euroclear, according to DW.com. US officials framed the asset release as part of a comprehensive settlement, though mechanisms remain under discussion. An American official stated that the use of Russia’s frozen assets was discussed as part of a comprehensive peace agreement, and that the mechanisms for unlocking them and the directions of their use are still under discussion, adding that many ideas have been put forward regarding how Moscow’s frozen assets could be used after the end of the war.
European Officials Reject Transfer of Funds
European delegates at the Miami talks firmly rejected the American proposal to move the assets. Officials from the European Union told US negotiators that abandoning control over the funds or returning any portion to Moscow will never happen,
pravda.com.ua reported. European participants emphasized that the bloc holds the funds to finance Ukraine’s post-war reconstruction if Russia refuses to pay reparations.
The push over sovereign funds coincides with broader diplomatic friction. NV.ua reported that separate US energy agreements involving Russian diesel supplies complicated negotiations in Miami, creating unexpected hurdles for allied unity. A high-ranking EU official attending the Miami talks later stated that the diesel agreement stunned
the negotiators.
Frequently Asked Questions
How much Russian sovereign money is currently frozen in Western jurisdictions?
Western governments and G7 nations froze approximately €260 billion to €300 billion in Russian state assets after the 2022 invasion, with about €180 billion housed in the Belgian depository Euroclear, according to rbc.ua.
What specific role do Steve Witkoff and Jared Kushner hold in these negotiations?
Steve Witkoff is a special envoy of the US president, and Jared Kushner is the son-in-law of Donald Trump.
What does the European Union currently do with the frozen assets?
The European Union retains the principal funds while utilizing generated interest to finance aid for Kyiv, including a €45 billion loan backed by asset proceeds, according to DW.com.
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