Japan refuses to transfer Russian assets to Ukraine

During a meeting of G7 finance ministers on Monday, Tokyo rejected Brussels' request to support its plans to provide Ukraine with Russian sovereign assets held in the Belgian bank Euroclear, Politico reports.

Japan has dashed the bloc's hopes of gaining global support for the initiative.

Two EU diplomats familiar with the discussions said Japan made it clear that it could not use the approximately $30 billion in frozen Russian assets held on its territory to provide Ukraine with a loan.

Japanese Finance Minister Satsuki Katayama ruled out the possibility of using Russian assets due to legal issues.

Japan's position is linked to the US's opposition to the use of Russian assets in favor of Ukraine, arguing that Tokyo does not want to ignore its important ally.

Photo: SSU.