"Using Frozen Russian Assets to Rebuild Ukraine: Zelensky's Call and G7's Caution"
Ukrainian President Zelensky is urging world banks to release all of the $300 billion in frozen Russian assets to help rebuild Ukraine, rather than just the rise in value and interest since the assets were frozen in 2020. While the US and UK are supportive, European central bankers are concerned about setting a precedent that could undermine global financial stability. Zelensky argues that Western taxpayers should not bear the burden of rebuilding Ukraine, and believes the seized Russian assets should be used directly for that purpose. However, there are fears of "weaponizing" central banks and currencies, and some in the West are in denial about the threat posed by Putin to their territory.
