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Grabbing Russian wealth would set a dangerous precedent and, worse, prolong the war in Ukraine.

The U.S. and its allies are looking for a legal way to unfreeze $300 billion in Russian Central Bank funds sitting mostly in Europe and use them for the benefit of Ukraine. The idea is gaining new traction lately as continued allied funding for Ukraine becomes more uncertain and the U.S. Congress is in a stalemate over providing more support. But there are tradeoffs since the weaponization of global finance could harm the U.S. dollar’s standing as the world’s dominant currency. Administration officials caution that even if a legal way can be found to transfer the frozen dollars to ...

(This story has not been edited by THE WEEK and is auto-generated from a PTI

WASHINGTON—It’s been nearly two years since the United States and its allies froze hundreds of billions of dollars in Russian foreign holdings in retaliation for Moscow’s invasion of Ukraine. That roughly $300 billion in Russian Central Bank money has been sitting untapped as the war grinds on, while officials from…

The U.S. and its allies are looking for a legal way to unfreeze $300 billion in Russian Central Bank funds sitting mostly in Europe and use them for the benefit of Ukraine