NATALIA KOLESNIKOVA
- President Joe Biden is considering seizing frozen Russian assets, reports said.
- The frozen Russian bank reserves would be used to fund Ukraine's war effort.
- But the plan has its pitfalls, with critics arguing it could destabilize the financial system.
The Biden administration is gearing up plans to seize $300 billion in frozen Russian Central Bank assets to fund Ukraine's fight against the Russian invasion, reports say.
Administration officials told The New York Times that talks have been held in recent weeks between government officials, diplomats, and finance ministers to use the assets, which were frozen in 2022 as part of sanctions levied on Russia over the unprovoked invasion.