Yellen Urges EU Allies to Act Jointly on Frozen Russian Assets

Treasury Secretary Janet Yellen urged European allies to act together with the US to find a way to unlock the value of around $280 billion in frozen Russian assets so they can provide sustained financial support to Ukraine.

“It’s vital and urgent that we collectively find a way forward to unlock the value of Russian sovereign assets immobilized in our jurisdictions for the benefit of Ukraine,” Yellen said in excerpts of a speech on the transatlantic alliance she’s set to deliver Tuesday in Frankfurt.

Yellen touted US collaboration with the European Union under the Biden administration in a range ...