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Can seized Russian assets help pay for Ukraine aid?

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Can seized Russian assets help pay for Ukraine aid?


Western leaders have agreed to the concept of using the interest from frozen Russian financial assets to help support Ukraine fight Russia and rebuild after the lengthy war.

But they’re still working out the details of exactly how and when to distribute the roughly $3 billion in annual interest. Those negotiations are at the top of the agenda for the G7 leaders’ summit in Puglia, Italy.

What are the frozen Russian assets and how much are they worth?

When Russia invaded Ukraine in 2022, Western governments froze about $300 billion in Russian assets — including money, securities, gold and bonds — held mainly in banks in Europe.

Leaders of the G7 economies have agreed to use the interest generated by the assets — about $3 billion per year — to help Ukraine buy weapons for its fight against Russia and rebuild after the war.

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What are the sticking points?

The United States and European countries have different proposals for distributing the money.

Scheherazade Rehman, a professor of international finance at George Washington University, explained it in simple terms.

“The Europeans would like to transfer them to Ukraine yearly or every two years, so spread it out. The Americans, however, want to find a way to get this money very quickly to Ukraine all at once,” Rehman said.

The European proposal would see about $3 billion a year go to Ukraine, and only interest from a certain part of the frozen Russian assets — $190 billion held by a company called Euroclear in Belgium — would be shared.

The U.S., on the other hand, wants to give $60 billion to Ukraine up front, because Ukraine’s need on the battlefield is dire. Officials have said the interest generated from the frozen Russian assets would go toward paying back that money.

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Rehman said Washington has the weaker hand in the debate because only about $5 billion of the $300 billion in Russian assets are held in the United States — and European nations are concerned about how they would be paid back for a big initial lump sum.

Anatolii Stepanov/AFP via Getty Images / AFP

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A boy jumps next to a destroyed Russian self-propelled gun on Mykhailivska Square in the center of Kyiv on June 11.

Will the G7 reach an agreement by the end of the summit?

It’s hard to say what this agreement will look like in its final form — but officials familiar with the planning have told reporters that President Biden is going to make a final push to secure a deal.

The agreement will likely be some sort of compromise between the European and U.S. proposals. But Rehman said recent elections in countries like France and Germany may also affect discussions.

“Europeans really have to get their act together at this G7 meeting because they’re on shaky ground just because of the European parliamentary elections that just took place where the hard right has now got a historic toehold,” she said.

“The Europeans are coming into this with very different footing than if this was 10 days ago.”

Copyright 2024 NPR

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Republican candidates for South Carolina governor debate key issues in Charleston

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Republican candidates for South Carolina governor debate key issues in Charleston


Six Republican candidates vying to become South Carolina’s next governor met in downtown Charleston for a wide-ranging debate that put abortion, infrastructure and the future of data centers at the center of the race.

The forum was held at the Sottile Theatre, where Lt. Gov. Pamela Evette, state Sen. Josh Kimbrell, U.S. Rep. Nancy Mace, U.S. Rep. Ralph Norman, Lowcountry businessman Rom Reddy and Attorney General Alan Wilson took the stage.

Questions included whether they would support a state hate crime law, how they would address concerns about growth and infrastructure, how to navigate collaboration, abortion and the future of data centers in the state.

One issue that drew near-unanimous opposition was state Senate Bill 1095, a proposed total abortion ban that passed out of committee earlier in the day. All of the candidates opposed the bill, but they differed on what they would do if it reached the governor’s desk.

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READ MORE | South Carolina governor candidates tout infrastructure, growth at business forum

Norman said he would sign it.

“You know, this is an emotional issue, but I will tell you if this bill came to my desk as governor. If it passed the House and the Senate, I would sign it,” Norman said.

All of the other candidates on stage said they would veto the bill if it came across their desk as governor, with Reddy arguing the question should be decided by voters.

“The Supreme Court did not say the loudest voice in the ruling class prevails. It said it’s up to the people in the state, so let’s put it to a referendum,” Reddy said.

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On infrastructure, candidates discussed reforming the South Carolina Department of Transportation and allowing private-sector involvement to help pay for improvements.

Wilson outlined ideas that included leasing interstate easements and expanding private express lanes.

“We privatized that grass between the interstates. We turn it into private express lanes that can be told we leased the easements on the sides of interstates to telecommunication companies and energy companies, and charge them for natural gas line and fiber optic fiber optic cables,” Wilson said.

Evette also pointed to public-private partnerships and the possibility of fast-pass lanes.

READ MORE | South Carolina governor candidates tout infrastructure, growth at business forum

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“We want to make sure that we’re innovative public private partnerships coming in and creating fast pass lanes to allow people that are in a hurry to be able to utilize that,” Evette said.

The final question focused on data centers, with candidates agreeing corporations should “pay their way.”

“They should pay for their water. They should pay for their infrastructure, any roads around it, and we should look at what Governor Ron DeSantis has done in Florida with the large data centers that are coming to Florida. That should be the model in South Carolina and everywhere,” Mace said.

Kimbrell said the state should set limits to protect natural resources and guard against higher power costs for residents.

“Put parameters around data centers to ensure that the water consumption does not impact places like the ACE Basin,” Kimbrell said. “Ensuring that the Public Service Commission makes absolutely sure nobody’s power rate goes up and we try to get behind the meter energy grids in place so they can be self-sufficient.”

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Two more debates are planned ahead of the primaries on June 9.



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SC lawmakers’ second push to ban most abortions advances

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SC lawmakers’ second push to ban most abortions advances


A bill that could make it a felony for doctors to perform an abortion is moving to the full South Carolina Senate with just a few weeks left in the legislative session.

The South Carolina Senate medical affairs committee continued a debate of Senate Bill 1095 on April 21 in Columbia. The bill, sponsored by State Sen. Richard Cash, R-Anderson, builds on a restrictive abortion bill that failed to progress in the fall.

The committee passed the measure in an 8-4 vote, moving it to the full Senate for consideration. Lawmakers have until May 14, the last day of the 2026 legislative session, to pass the bill for it to become law.

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Senate Bill 1095, also called the “Unborn Child Protection Act,” bans performing an abortion or supplying abortion drugs. It makes it illegal for a woman to get an abortion, with the only exception being to save a pregnant woman’s life.

It also makes mifepristone and misoprostol Schedule IV controlled substances. Alprazolam (Xanax) and zolpidem (Ambien) are two other examples of Schedule IV substances.

Pro-Life Greenville, an anti-abortion organization based in Greenville, responded to the bill’s progress with “full endorsement” of the legislation.

“Unborn children, like all human beings, deserve to have their lives protected under law here in the Palmetto State,” Pro-Life Greenville stated. “Today’s vote by the SC Senate Medical Affairs Committee brings that urgent need one step closer to reality.”

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Under the bill, a woman who has an abortion could face misdemeanor charges. The maximum sentence would be two years in jail with a $1,000 fine.

Those found guilty of performing an abortion or providing a pregnant woman with abortion-inducing drugs could face felony charges, a maximum sentence of 20 years in jail, and a possible $100,000 fine.

Planned Parenthood South Atlantic (PPSAT), a firm opponent of the bill, decried the Senate committee passage. PPSAT Director of Public Affairs Vicki Ringer said in a statement that the bill will cost people their lives, and it will make it more difficult for women to get reproductive and pregnancy healthcare.

“Abortion bans have and will continue to cost people their lives,” Ringer stated. “As this ban inches closer to the governor’s desk, it is becoming increasingly clear just how many of our lives anti-abortion lawmakers are willing to endanger in service to their agenda.”

Bella Carpentier covers the South Carolina legislature, state, and Greenville County politics. Contact her at bcarpentier@gannett.com

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SLED issues Blue Alert for armed, dangerous woman in Midlands

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SLED issues Blue Alert for armed, dangerous woman in Midlands


BARNWELL, S.C. (WRDW/WAGT) – An officer was injured, and the South Carolina Law Enforcement Division (SLED) has issued a Blue Alert for an “armed and dangerous” woman.

According to the Blue Alert, Cushman is wanted in connection with an officer being injured.

The location of the assault was Gardenia Road in Blackville, S.C.

On Monday night around 10:35 p.m., officials said they were looking for Lacey Cushman, 37, a white woman who is 5 feet 9 inches tall and weighs about 210 pounds.

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SLED issues Blue Alert for armed, dangerous woman in Barnwell County(WRDW)

According to SLED, she has brown eyes and an unknown hair color. Her hairstyle and clothing are unknown.

She was last seen driving a 2011 white Chevrolet Traverse with an S.C. tag, 706IRU, in Barnwell County.

Her last known direction of travel was toward Bamberg County.

If you see her or have information, call 911 immediately.

Feel more informed, prepared, and connected with FOX Carolina. For more free content like this, download our apps.

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Copyright 2026 WHNS. All rights reserved.



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