Ukrainian War, October 30, 2022: $300 billion in frozen assets could be transferred to Ukraine in accordance with international law, Robert Zoelick argues

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Dispatches

1) Robert B. Zoellick, “Russian Cash Can Keep Ukraine Alive This Winter; There’s precedent for transferring the more than $300 billion in frozen reserves as compensation,” Wall Street Journal, October 26, 2022 (12:17 pm ET).

Mr. Zoellick served as U.S. trade representative (2001-05), deputy U.S. secretary of state (2005-06) and World Bank president (2007-12). He is the author of “America in the World.”

Analysis

Robert Oelich, Zoelick,thebformer head ofthe World Bank, argues persuasively that the $300 billion in Russian assets that have been frozen under the sanctions adopted following Russia’s invasion of Ukraine should be transferred to Ukraine, in accordance with international law and precedent.

Transfer of these assets to Ukraine would reduce a lot of the financial pressure on governments supporting Ukraine, particularly the United States. Ukraine’s monthly requirements for financial assistance, Zoelick notes, are running at the rate of $5 billion per month.

The Trenchant Observer

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