Your current location:HOME >health >France says no to U.S. on the seizure of Russian assets 正文
TIME:2024-05-22 03:31:37 Source: Internet compilationEdit:health
French Finance Minister Bruno Le Maire has contested the United States' stance on monetizing frozen
French Finance Minister Bruno Le Maire has contested the United States' stance on monetizing frozen Russian assets, revealing divisions among G7 countries over the issue.
"I want to be very clear: We currently have no legal basis for the seizure of Russian assets," Le Maire said on the sidelines of a gathering of G20 finance ministers in Sao Paulo, Brazil, on Wednesday.
His comments highlight geopolitical tensions at the event and discord among close allies on how to handle Russian assets blocked by Western powers since the outbreak of the Russia-Ukraine conflict in 2022, Reuters commented.
"We need to keep working ...The G7 must act in compliance with the rule of law," Le Maire was quoted by Agence France-Presse as saying.
"This legal basis must be accepted not only by European countries, not only by G7 countries, but by all member states of the world community, and I mean by all the member states of the G20. We should not add any kind of division among the G20 countries."
The G7 finance ministers, who met ahead of G20 discussions, deliberated on whether the frozen assets could be utilized to aid in the reconstruction of Ukraine.
On Tuesday, U.S. Treasury Secretary Janet Yellen expressed her belief that there existed a robust legal foundation in international law to extract value from the Russian assets, which amount to about $300 billion, either through collateral or seizure.
'Insufficient grounding'
Le Maire's comments assert that France firmly believes there is insufficient grounding in international law to proceed with the seizure of Russian assets, and emphasize the need for further deliberation.
Any actions must be firmly rooted in international law and must garner the backing of all members of the G20 major economies, including Russia, he said.
Russia's Foreign Ministry previously denounced the freezing of Russian assets in Europe as theft, saying the actions targeted not only private individuals' funds, but also Russian state assets. Russia has warned of retaliation should the West move forward with the seizure of the assets.
Experts cited by Reuters said the process of unlocking value from the assets could extend over a year or more. For this to happen, most, if not all, countries possessing Russian assets would need to enact domestic legislation to enable such actions.
G7 officials have been grappling more than a year to determine the fate of Russian sovereign assets frozen following the conflict in Ukraine. G7 leaders have set a deadline for proposing potential resolutions by June.
The European Commission has suggested using interest accrued on the assets, leveraging the funds as collateral for loans for Ukraine, or providing direct financial assistance to Ukraine.
Culture festival showcases integration2024-05-22 02:49
Xi Calls for Unity to Achieve Better Asia2024-05-22 02:22
More Chinese students experience unwarranted interrogation, harassment, deportation at U.S. border2024-05-22 02:07
Xinhua Commentary: For China and U.S., One's Success Is an Opportunity for the Other2024-05-22 02:03
Macron is making a surprise trip to New Caledonia amid deadly unrest and indigenous frustration2024-05-22 01:46
Xinhua Headlines: Xi, Biden Hold Historic Summit, Charting Course for Improving Bilateral Ties2024-05-22 01:42
China's home2024-05-22 01:22
Harbin creates ice sculptures of Terracotta Warriors to cater for tourists2024-05-22 01:17
Inquiry slams UK authorities for failures that killed thousands in infected blood scandal2024-05-22 01:07
When Chinese martial arts, Western contemporary dance converge2024-05-22 00:56
Wildfires sweep across Finland, straining rescue services2024-05-22 03:30
Xi Calls for Unity to Achieve Better Asia2024-05-22 03:10
Xi Calls on China, U.S. to Build Together Five Pillars for Bilateral Relations2024-05-22 02:55
China and Nauru resume diplomatic relations2024-05-22 02:36
Tamara Ecclestone is criticised as her daughter Fifi, 10, heads out wearing heavy make2024-05-22 02:12
New completion rules released for China to optimize the business environment2024-05-22 02:10
Studies of dinosaur eggs flourish in southern China2024-05-22 02:07
Indian artist teaches painting in Tianjin2024-05-22 01:57
Ben Whishaw lights up the Croisette as he joins his co2024-05-22 01:40
China's first Y2024-05-22 01:01