The US Treasury Secretary called on the G7 to urgently find an opportunity to transfer frozen Russian assets to Ukraine

US Treasury Secretary Janet Yellen called on the G7 countries to urgently find a way to send frozen Russian assets to Ukraine.

She announced this before the meeting of finance ministers and heads of central banks of the G20 countries, writes Bloomberg.

"There is a strong international law, economic and moral case for moving forward. The G-7 should work together to explore a number of approaches that have been suggested," Yellen said in Sao Paulo.

According to her, unlocking assets to help Ukraine "would be a decisive response to Russia’s unprecedented threat to global stability."

"It would make clear that Russia cannot win by prolonging the war and would incentivize it to come to the table to negotiate a just peace with Ukraine.," the Secretary states.

• The European Union, the G7 countries and Australia have frozen about €260 billion in securities and cash. All parties agree that these funds should remain unavailable to Russia unless it agrees to help rebuild Ukraine, but they disagree on the legality of outright asset seizure. Debate over the use of Russian assets has intensified as Republicans in Washington continue to block new aid to Kyiv.