IMF names conditions for confiscation of Russian assets

The confiscation of frozen Russian assets should have sufficient legal underpinnings and not undermine the stability of the international monetary system.

Julie Kozack, Director of the IMF's Communications Department, said this at a briefing in Washington on Thursday, according to an Ukrinform correspondent.

"Decisions related to the seizing of assets are for the relevant country authorities and jurisdictions to decide," she said.

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She also added that it is important for the IMF "that any action has sufficient legal underpinnings and does not undermine the functioning of the international monetary system."

Discussions on the possible confiscation of frozen Russian assets are ongoing in the United States, Europe and other countries.

The European Union is working on how to use EUR 37 billion in private Russian assets and EUR 208 billion in state-owned frozen Russian assets to compensate for damage caused to Ukraine by Russian aggression.