Former Treasury Secretary Larry Summers says Ukraine's needs are 'enormously expensive' for the US to finance - and frozen Russian assets should be used instead

• Former Treasury Secretary Larry Summers called for Russia's frozen funds to be made available for Ukraine
• It would be financially and politically expensive for the US to fund Kyiv's needs, he told Bloomberg TV.
• "What those facts say to me is that we're not going to find hundreds of billions of dollars for Ukraine in our budgets."

Funding Ukraine out of the US budget would be both financially and politically detrimental, former Treasury Secretary Larry Summers told Bloomberg TV.

Instead, he suggested the Biden administration could push to use Russian assets that were frozen by the West to help Ukraine build a viable economy that will help "win the peace" after the war.