White House Throws Support Behind Seizing Frozen Russian Assets
- Funds frozen amid Ukraine war could be used for reconstruction
- Biden seeks to rally Republican support, stay aligned with G-7
President Joe Biden’s administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for reconstruction of Ukraine, a shift as the White House seeks to rally support in Congress to further fund the war against Vladimir Putin’s forces.
The administration welcomes “in principle” a bill that would allow it to confiscate the funds, according to a November memo from the National Security Council to the Senate Foreign Relations Committee.