Ukraine needs money to fight. Can seized Russian assets help?
Some $300 billion in Russian assets, frozen in the West after the invasion of Ukraine, are racking up profits and interest earnings by the day. Now, Europe and the United States are considering how to use these gains to help the Ukrainian military as it wages a grueling battle against Russian forces.For months, there was debate about whether it was legal or even wise to confiscate the frozen assets altogether. While the United States and Britain favor the confiscations, significant objections have come from countries such as France, Germany, Indonesia, Italy, Japan and Saudi Arabia, as well as officials such as Christine Lagarde, head of the European Central Bank.They argue that confiscation would set a bad precedent, a violation of sovereignty, and could lead to legal challenges, financ...