According to a report by the Associated Press, the United States does not plan to confiscate Russian assets frozen in the United States without the consent of other G7 member states and the European Union. This position becomes known in the context of the law on additional military assistance to Ukraine, which was signed by President Joe Biden.
The Additional Military Assistance to Ukraine Act, signed into law by President Joe Biden, also allows the administration to seize Russian assets frozen in the US and use them to benefit Ukraine. As the Associated Press notes, this may mean the allocation of another $5 billion in aid from the Russian Central Bank to Kyiv.
The new law requires the president and the Treasury Department to begin a search for Russian assets in the United States within 90 days and to report to Congress within 180 days. A month after that, the president will be allowed to “seize, confiscate, transfer or seize” any Russian government assets within US jurisdiction.
However, the news agency writes, it is unlikely that the US will act without the consent of other members of the G7 and the European Union. Thus, the law states that "any efforts by the United States to confiscate and repurpose Russian sovereign assets" must be carried out jointly with allies.
At the same time, the authorities of European countries refuse to confiscate frozen Russian sovereign assets, fearing that this may violate international law, discourage investors from trusting the euro, and cause Russia to take appropriate measures.
