US, partners making progress on ways to use frozen Russian assets

The United States and its G7 partners are making progress on finding ways to provide larger amounts of urgently needed funds to Ukraine by tapping the value of profits earned on frozen Russian assets, a senior U.S. Treasury official said on Tuesday.
Brent Neiman, assistant secretary for international finance, said a recent decision by the European Union to use the annual flow of windfall profits earned on the immobilized assets could potentially deliver billions of dollars per year to Ukraine.
Neiman said the United States and its Group of Seven partners were advancing discussions on how to build on that move to deliver an even larger amount of funds to Ukraine right now. “One possibility may be to lend a significant amount up front to help Ukraine over the short run and link repayment of that loan
to the stream of future windfall profits.”
Doing so would provide “an immediate fiscal boost to Ukraine and also signal to Putin that he cannot simply outlast Ukraine and its partners,” said Neiman, who recently returned from a visit to Ukraine.