Japan rebuffs EU plea to join Russian assets plan

https://www.politico.eu/article/japan-eu-frozen-russian-assets-ukraine-loan-g7/

Posted by Themetalin

3 comments

  1. Japan has rebuffed the EU’s offer to join its plan to use frozen Russian state assets to fund Ukraine — dashing the bloc’s hopes of securing global support for the initiative.

    During a meeting of G7 finance ministers on Monday, Tokyo poured cold water on a request by Brussels to copy its plans to send Ukraine the cash value of Russian sovereign assets held in Belgian bank Euroclear.

    Japan signaled it is unable to use around $30 billion worth of Russian frozen assets held on its soil to issue a loan to Ukraine, two EU diplomats briefed on the discussions told POLITICO.

  2. >Japanese Finance Minister Satsuki Katayama has ruled out using the Russian assets **due to legal concerns**, said an EU diplomat who was briefed on the meeting.

    >However, several officials said Japan’s stance was **linked to U.S. opposition** to using the Russian assets for Ukraine, arguing Tokyo doesn’t want to flout its crucial ally. Like the EU diplomats, they were allowed to remain anonymous to discuss sensitive matters.

    I guess ’legal concern’ is just an excuse. Hope the war will end sooner than later.

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