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Russia backs US plan to use frozen assets
Russia welcomed a U.S. proposal to use its frozen assets in Europe to finance joint projects between Moscow and Washington, expressing its interest in studying and working on the idea. The Russian Finance Minister explained that the United States suggested utilizing Russian assets held in European institutions to fund projects, describing the proposal as rational and interesting. However, Europe rejected the idea amid disagreements over the fate of the frozen Russian assets, estimated at around $300 billion, which were frozen after the outbreak of the war in Ukraine in 2022. Regarding energy, Moscow expressed its readiness to resume exports to Europe by lifting financial restrictions, despite ongoing EU efforts to reduce dependence on Russian energy and impose sanctions on it. Additionally, Russia demonstrated financial adaptability by relying on stablecoins and direct payments in national currencies to counteract Western restrictions.
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