Group of Seven foreign ministers are meeting on the resort island of Capri.
WorldFILE - Italian Foreign Minister Antonio Tajani listens to questions during a press conference on G7 at the Foreign Ministry in Rome, Wednesday, Jan. 17, 2024. Group of Seven foreign ministers are holding a three-day meeting on the Italian resort island of Capri, starting Wednesday, April 17, with soaring tensions in the Mideast and Russias continuing war in Ukraine.
At the European Union level, EU leaders are to discuss the proposal at a summit Wednesday in Brussels. EU foreign policy chief Josep Borrell, meanwhile, is expected in Capri. “We’re looking at a series of possibilities ranging from actually seizing the assets to using them as collateral,” she told reporters in Washington.
The European Central Bank, or ECB, has warned in the past against seizing Russian assets themselves as this could undermine confidence in the euro currency and EU markets. But Borrell has said that under the EU plan, no assets would be taken, only the windfall profits they make.on Oct. 7, when Hamas and Islamic Jihad, two militant groups backed by Iran, carried out a devastating cross-border attack that killed 1,200 people in Israel and kidnapped 250 others.
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