Biden plans to allocate a portion of frozen Russian assets to Ukraine.

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The Biden administration is trying to use frozen Russian assets to help Ukraine. After Russia’s invasion of Ukraine, the US and Europe froze their Russian assets.

On 30th November 2022, EU Commission President Ursula Van der Leyen, made a statement that, “The damage suffered by Ukraine is estimated at €600 billion. Russia and its oligarchs have to compensate Ukraine for the damage and cover the costs for rebuilding the country. And we have the means to make Russia pay. We have blocked €300 billion of the Russian Central Bank reserves and we have frozen €19.”

Most of Russia’s frozen assets are held by France, which is worth about 70 billion dollars.

According to the New York Times report, the Biden administration has started talks with allies to help Ukraine with these assets.

The talks have been launched at a time when opposition to aid to Ukraine has grown from within the US and the European Union. The US House of Representatives rejected a Ukrainian aid bill.

Russian Finance Minister Siluanov said that in the event of confiscation of income from frozen funds, Russia will take mirror measures.

In Ukraine, a man changed his gender to avoid being drafted into the army.

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