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Published 9 months ago

Yellen signals support for windfall tax on frozen Russian assets

  • U.S. Treasury Secretary Janet Yellen supports a European Union plan to impose a windfall tax on profits from Russian assets to finance Ukraine's reconstruction. This notion was discussed by Yellen with Ukrainian officials during her visit to Kyiv in February.
  • Yellen's endorsement of the windfall tax highlights the U.S.'s commitment to helping Ukraine recover and rebuild, while also demonstrating cooperation with the EU in addressing the Russian asset issue.
  • Despite legal obstacles, Yellen acknowledges that seizing the $300 billion in Russian central bank assets frozen by sanctions is challenging.
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