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G7 countries privately recognize Russian assets seizure not on the table — FT

Western countries are "exploring alternative ways of extracting funding" for Ukraine from the frozen assets, the newspaper said

© David MAREUIL/ Anadolu Agency/ Getty Images

LONDON, May 3. /TASS/. Member-nations of the Group of Seven (G7) privately recognize that they are not considering the idea of the full confiscation of frozen Russian assets anymore, The Financial Times said, citing sources.

Western countries are "exploring alternative ways of extracting funding" for Ukraine from the frozen assets, the newspaper said. The main cause for EU countries being reluctant in confiscating assets is "fear of retaliation," The Financial Times said.

The plan of EU countries anticipates in particular the use of "extraordinary profits" generated by Russian assets at the disposal of the Euroclear depository to make joint procurement of weapons for Ukraine, the news outlet said. This option is considered to be "far less risky" because it does not cover the assets proper, experts said, cited by the newspaper. The amount of funds expected to be received is estimated at about three bln euro per year.

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