Yellen urging world leaders to ‘unlock’ frozen Russian Central Bank assets and send them to Ukraine

Treasury Secretary Janet Yellen is offering her strongest public support yet for the idea of liquidating roughly $300 billion in frozen Russian Central Bank assets and using them for Ukraine's long-term reconstruction. “It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine’s continued resistance and long-term reconstruction,” Yellen says in remarks prepared for delivery Tuesday in Sao Paulo, Brazil, where Group of 20 finance ministers and central bank governors are meeting this week. The United States and its allies froze hundreds of billions of dollars in Russian foreign holdings in retaliation for Moscow’s invasion of Ukraine.