The G7 countries have supported the EU proposal to use the proceeds from frozen Russian assets, the FT has reported.
This is done with a view to further transferring the funds to Ukraine. This is how the West is trying to make Moscow “pay” Kiev. However, it will eventually have to pay for this decision itself.
Earlier, the ECB warned the European Commission that such plans could shake the confidence of world markets and destabilise the euro. If the EU seizes the proceeds of foreign-owned assets, other central banks will try to sell their euro-denominated assets.