President Volodymyr Zelenskyy has called on Ukraine’s partners to create a legal framework for the use of frozen Russian assets to support Ukraine.
Source: Volodymyr Zelenskyy on X (Twitter)
Quote: “The decision to use frozen Russian assets to support Ukraine will be an entirely just and legitimate response to Russia’s aggression against Ukraine. It will send the right message to all would-be aggressors around the world: attacking another state does not pay off; it makes the aggressor pay. I encourage partners to move quickly on relevant legal frameworks. This year, we must achieve tangible progress toward using frozen Russian assets for the benefit of Ukraine. We firmly rely on G7 leadership on this matter.”
The precedence it might set would be that tomorrow China might take out its assets from US and call for payments for the debt causing crash which might rival 1929.
Frozen assets can be transferred and have been transferred. But it is not the norm and not done in haste.