U.S. senators urge Trump administration to use frozen Russian assets to pressure Moscow

That is according to Reuters, Ukrinform reports.

“How does the Administration view using all financial tools at its disposal to increase pressure on Russia to end the war?” the senators asked in a letter sent to Secretary of State Marco Rubio and seen by Reuters on Monday.

“Specifically, does the Administration believe that U.S. and EU-held assets should be used as leverage in negotiations with Russia to bring an end to the war? If so, how?” the letter asked.

In their letter, the senators asked if the administration intends to develop a strategy to encourage the EU, G7 and other allies to leverage sovereign Russian assets. They also asked if the administration would support Ukraine using Russian sovereign assets under U.S. control to purchase defense equipment.

The letter was signed by Republicans Todd Young and Lindsey Graham, and Democrats Richard Blumenthal and Tim Kaine.

Members of the U.S. Congress have been calling for years for seized Russian assets to be used to rebuild Ukraine, both to avoid spending more American taxpayer dollars on the conflict and to put pressure on Moscow to reach a peace deal.

After Russian President Vladimir Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia’s central bank and finance ministry, blocking $300-$350 billion of sovereign Russian assets.

They are mostly European, U.S. and British government bonds held in a European securities depository. Sources said only about $7 billion is held in U.S. financial institutions.

European and U.S. officials have agreed to use windfall profits from interest on the frozen Russian assets to back loans to Ukraine, but not the assets themselves.

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