US & GLOBAL: This week , US Treasury Secretary ,Janey Yellen, recommends that the Russian Central Bank be caused to release $300 billion in funds to be issued to Ukraine. Yellen spoke before the House Financial Services Committee requesting tge frozen Russian assets be provided to Ukraine to aid in Ukraine's reconstruction.
By Anne M Erbynstein
"I believe there is a strong international law, economic and moral case for moving forward."-- US Secretary of Treasury, Janet Yellen.
On Tuesday, a report from the Treasury Department made disclosure of the decision made by Yellen and her comment to national leaders gathered during the Brazil conference. Yellen stated that a coalition is necessary for making review of the value of the " immonilized assets..." to determine what may be necessary gaining access.
Yellen stated that such a move would establish a significant "... response to Russia's threat to global stability."
Currently, Russia's frozen Central Bank funds remain situated within the EU. Since the day of the Ukraine invasion, Russian has been unable to tap the hundreds of billions of dollars in assets. Yellen stated that the use of the assets in Ukraine woukd send a clear message to Russia that their continued aggression in Ukraine will not be of any benefit to Russia.
Yellen stated, today, that there is no real evidence that the use of immobilized Russian assets will, likely, have no impact on the "dollar's standing inthe global economy" neither that tapping the Russian assets may, in the long run, pose any threat nor be weaponized to be injurious to the U.S. dollar.
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