US Treasury Secretary Janet Yellen strongly supported the EU’s plan to introduce a windfall tax on frozen Russian assets. This step will stimulate the attraction of new funds to support Ukraine.
Yellen’s comments came as US funding for Ukraine faces a new hurdle in Congress after the removal of Kevin McCarthy as House Speaker allowed a group of Republicans to delay the next aid package to Kyiv.
The governments of some EU countries were waiting for official US approval of a plan to use the profits obtained from more than €200B of frozen assets belonging to the Russian central bank before giving the green light to the plan.
It is noted that Russian assets in Euroclear Ltd. Had generated €750M in profit by the first quarter of this year. In Yellen’s opinion, Russia should suffer and pay for the damage it has caused.