US proposes novel $50 billion Ukraine aid plan — report
The United States has proposed to its
allies to issue at least $50 billion in bonds secured by frozen
Russian assets to support Ukraine, Bloomberg reported on March 21, citing
sources familiar with the plan.
According to one source, the proposal includes pooling the assets of the Russian central bank totaling $280 billion, which have been frozen by the G7 countries and the European Union.
Another unnamed official said the plan could yield more than $50 billion. For instance, some EU countries, including Estonia, have urged allies to be bolder and completely confiscate Russian sovereign assets.
On Jan. 16, the United States acknowledged legal difficulties in using the frozen Russian assets for Ukraine's benefit.
On Jan. 30, EU member countries supported a plan to allocate billions of euros in revenue generated by frozen Russian central bank's assets as a first step toward their potential use for Ukraine's reconstruction.
On March 5, UK Foreign Secretary David Cameron stated London is prepared to provide Ukraine with all the frozen assets of the Russian central bank, in lieu of reparations Russia would be obliged to pay after the war.
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