The US has proposed that working groups from the G7 explore ways to seize $300bn in frozen Russian assets, as the allies rush to agree a plan in time for the second anniversary of Moscow’s full-scale invasion of Ukraine.
While no decisions have been taken and the issue remains hotly debated inside European capitals, the acceleration of work on confiscating Moscow’s assets for Ukraine highlights its rising importance for the west.
The topic was discussed this month by both G7 finance ministers and their deputies, according to people briefed on the calls, which touched on how to develop such a policy and assess the risks involved.
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