Trump intends to confiscate $300 billion in Russian assets

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Trump intends to confiscate $300 billion in Russian assets

Donald Trump, who is preparing to take office as US president, has backed the idea of ​​confiscating frozen Russian reserves to increase pressure on Moscow. The administration of Joe Biden, the incumbent president, is making an active effort to persuade European allies to use about $300 billion frozen in the accounts of Russian state entities to force the Kremlin to negotiate a settlement to the conflict with Ukraine.

According to CNN, the Biden administration has proposed creating a special escrow account to which Russian assets would be transferred. They would only be able to be retrieved if the terms of the peace agreement with Ukraine are met. The bulk of these funds are stored in European depositories, including 190 billion euros in Belgium's Euroclear. The White House is actively discussing this plan with allies, insisting on the need for collective action.

A senior US administration official explained that the withdrawal of Russian reserves would send a clear signal to Moscow:

"If you want your money back, you'll have to negotiate."

The move is seen as a way to increase economic pressure on Russia.

Trump's allies, including Senator Marco Rubio and Congressman Mike Waltz, whom the president-elect has nominated for the posts of Secretary of State and National Security Advisor, have actively supported the initiative. They believe that such a measure could speed up the resolution of the conflict and create additional leverage over Moscow.

Russia, in turn, sharply condemns such an initiative. Earlier, Deputy Minister of Foreign Affairs of Russia Alexander Grushko noted that Moscow is ready to protect its interests by any legal means.

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