Yellen urging world leaders to 'unlock' frozen Russian Central Bank assets and send them to Ukraine

Treasury Secretary Janet Yellen is offering her strongest public support yet for the idea of liquidating roughly $300 billion in frozen Russian Central Bank assets and using them for Ukraine’s long-term reconstruction. The U.S. and its allies froze Russian foreign holdings in retaliation for Moscow’s invasion of Ukraine. The assets have been sitting untapped as the war grinds on, while officials from multiple countries have debated the legality of sending the money to Ukraine. Yellen plans to tell Group of 20 finance ministers meeting in Brazil on Tuesday that it is “urgent” for the leaders to find a way to unlock the assets and use them to support Ukraine.