With Congress still deadlocked over providing more aid to desperate Ukrainian forces, the Biden administration is weighing ever more complicated and imaginative ways to funnel money and arms to the effort to repel the Russian invasion.
The latest idea is to sell bonds to raise money for Ukraine, all backed with hundreds of millions of dollars in frozen Russian assets.
The ‘freedom bonds’ could raise as much as $50 billion—almost as much as the stalled international security bill—to help Ukraine keep up its fight, while avoiding the thorny question of whether the $280 billion of frozen assets can be seized legally.
The proposal emerged on Thursday, as Russia fired more than two dozen missiles at the Ukrainian capital Kyiv and European leaders met to decide how best to use the Russian assets.
Their proposal would pool the $280 billion of Russian central bank assets frozen by by G-7 nations and the European Union in a ‘special purpose vehicle’.
‘For us neutrals it must be ensured that money, for which we give our approval, is not spent on weapons and ammunition,’ Austrian Chancellor Karl Nehammer said.
The original article contains 444 words, the summary contains 185 words. Saved 58%. I’m a bot and I’m open source!
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With Congress still deadlocked over providing more aid to desperate Ukrainian forces, the Biden administration is weighing ever more complicated and imaginative ways to funnel money and arms to the effort to repel the Russian invasion.
The latest idea is to sell bonds to raise money for Ukraine, all backed with hundreds of millions of dollars in frozen Russian assets.
The ‘freedom bonds’ could raise as much as $50 billion—almost as much as the stalled international security bill—to help Ukraine keep up its fight, while avoiding the thorny question of whether the $280 billion of frozen assets can be seized legally.
The proposal emerged on Thursday, as Russia fired more than two dozen missiles at the Ukrainian capital Kyiv and European leaders met to decide how best to use the Russian assets.
Their proposal would pool the $280 billion of Russian central bank assets frozen by by G-7 nations and the European Union in a ‘special purpose vehicle’.
‘For us neutrals it must be ensured that money, for which we give our approval, is not spent on weapons and ammunition,’ Austrian Chancellor Karl Nehammer said.
The original article contains 444 words, the summary contains 185 words. Saved 58%. I’m a bot and I’m open source!