On Thursday in Kyiv, economist and advisor to the Ukrainian government, Bessent, stated his opposition to the immediate confiscation of frozen Russian assets. He argued that such measures should not be taken hastily without a proper legal framework and international agreement.

Bessent highlighted that while the frozen assets of Russia held abroad are substantial, their confiscation requires careful consideration of international law and the potential repercussions on global financial systems. He stressed the importance of coordinated action among allied countries to ensure legitimacy and effectiveness.

The discussion around the frozen Russian assets has intensified amid ongoing geopolitical tensions, with some advocating for their use to support Ukraine's reconstruction efforts. However, Bessent cautioned that unilateral confiscation could undermine international legal norms and complicate diplomatic relations.

His comments were made during a public briefing in Kyiv on Thursday, where he addressed questions regarding the economic and legal implications of asset confiscation. Bessent's position reflects concerns shared by several international experts about the complexities involved in seizing state assets frozen due to sanctions.

The frozen assets in question include billions of dollars held in various countries, which were restricted following sanctions imposed after Russia's actions in Ukraine. The debate continues on how best to manage these assets to support Ukraine while adhering to international law.