The US is now allowed to seize Russian state assets. How would that work?

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv. That could mean another $5 billion in assistance for Ukraine, coming from Russian Central Bank holdings that have already been frozen in the United States. But it’s still not likely that the U.S. will seize the assets without agreement from other members of the Group of Seven nations and the European Union. Treasury Secretary Janet Yellen says she will keep talking with allies in the weeks ahead “on a collective path forward.”