⚡️🇺🇸🇪🇺🇺🇦🇷🇺 — Washington proposed unfreezing some Russian sovereign assets held in Europe and transferring them to a US-supervised financial vehicle to revive peace negotiations, the Financial Times reported, citing four people briefed on the matter. US envoy Steve Witkoff and Jared Kushner presented several mechanisms, including a new special-purpose vehicle, at Miami meetings last week with Ukrainian, French, German, British, EU and NATO officials.

European delegates rejected the proposal, which reportedly surprised European capitals and Kyiv and raised questions about Washington’s approach to pressuring Moscow to end the war. A US official said asset use had been discussed as part of a comprehensive peace agreement, but release mechanisms and spending remained under consideration; proposals for postwar use had also been advanced over time.

➡️ Western countries froze approximately €260 billion in Russian sovereign assets in 2022, most of which are held in the EU. Their potential use remains contentious among Ukraine’s Western allies over financing Kyiv’s defense and reconstruction while ensuring Russia bears the financial consequences of its war.

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