TLDR: A US envoy has suggested that frozen Russian assets could be a potential source of financing for the Ukrainian government if approved by the G7. U.S. Special Representative for Ukraine’s Economic Recovery, Penny Pritzker, believes that unlocking the more than $300 billion held in Russian accounts could be an “easy” way to fund Ukrainian defense efforts. However, she notes that the legal processes involved would require extensive involvement from lawyers and the full support of the G7. Ukrainian President Volodymyr Zelensky has previously expressed that the reappropriation of these frozen assets is a top priority for his administration. The funds are primarily held in Belgium, where the government is already working on freeing up the assets.
The US envoy, Penny Pritzker, has proposed the use of frozen Russian assets as a potential source of financing for Ukraine’s defense efforts, provided the G7 signs off on the decision.
Unlocking the more than $300 billion held in Russian accounts would require extensive legal processes involving a team of lawyers and the support of the G7.
Ukrainian President Volodymyr Zelensky has previously emphasized the importance of accessing these funds, which are primarily held in Belgium.
