This Saturday, the 20th, the United States House of Representatives approved a bill that authorizes the confiscation of Russian assets frozen by the West to be destined for Ukraine. In addition, parliamentarians also gave the green light to a new US$60.8 billion (R$316 billion) financing package for Kiev.

The proposal, which received 360 votes in favor and 58 against, will be submitted to the Senate, where Democrats hold the majority. The text also includes sending long-range Army Tactical Missile Systems (Atacms) to Ukraine.

The bill prohibits the unfreezing of Russian sovereign assets and authorizes the use of these resources to support Ukraine during the Russian special military operation and for the country’s reconstruction.

Since the start of the special operation in 2022, the European Union and the G7 countries have frozen almost half of Russia’s foreign exchange reserves, worth around 300 billion euros (R$1.6 trillion). At least 200 billion euros (R$1.1 trillion) are in the EU, mainly in accounts at Euroclear, one of the largest clearing and settlement systems in the world.

The bloc is discussing ways to use frozen Russian assets to finance Ukraine’s reconstruction. However, the European Central Bank warned that this could pose risks to the European currency’s long-term reputation.

Russia condemned the decisions, considering them a violation of the rules and norms of international law. The Russian Foreign Ministry classified the freezing of Russian assets in Europe as theft, highlighting that the EU is focused not only on private funds but also on Russian state assets.

Russian Finance Minister Anton Siluanov stated that since 2022, Western countries have imposed sanctions against Russia, its citizens and organizations. He also mentioned the discussion in the EU and other Western countries about creating legal conditions for the confiscation of frozen Russian assets and the introduction of external management over subsidiaries of Russian companies.

Russia has said it will respond to the possible confiscation of frozen assets in the West, according to Russian Foreign Minister Sergei Lavrov. He stated that Russia also has the possibility of not returning funds that Western countries held in Russia and which were frozen in response to the seizure of Russian state reserves.

Other projects approved by the US House include the obligation for TikTok to separate from Chinese parent company ByteDance, the sending of US$8.12 billion (R$42.2 billion) to allies in the Indo-Pacific region, such as Taiwan, and around US$27 billion (R$140.4 billion) for Israel.

With information from Sputnik


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