Japan: The G7 continues to discuss ways to handle frozen Russian assets

WORLD, Feb. 29 (YPA) – Deputy Finance Minister of Japan, Masato Kanda, stated that the Group of Seven (G7) countries continue to discuss ways on how to handle frozen Russian assets to support Ukraine.

“Discussions are ongoing at the G-7 so I will refrain from talking about the details, but there is no conflict” over the plan to utilize frozen Russian assets, Kanda said following the G7 meeting in Brazil.

He added, “I believe everything should be done within the framework of international law.”

Meanwhile, Jiji agency pointed out disagreements among G7 members regarding the legitimacy of seizing Russian assets, a stance strongly advocated by the United States.

US Treasury Secretary Janet Yellen called for finding a method to allow the use of the frozen Russian assets, valued at $285 billion, as soon as possible.

She emphasized the need for a legislative basis for seizing these funds, thus it is necessary to find a method “that is legal domestically and at the international level.”

Western countries have imposed sanctions on Russia since the beginning of the Russian military operation in Ukraine in February 2022.

E.M