Yellen signals support for windfall tax on frozen Russian assets

U.S. Treasury Secretary Janet Yellen speaks during a press conference at the U.S. embassy in Beijing, China, July 9, 2023. REUTERS/Thomas Peter

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen has voiced support for a European Union plan to impose a windfall tax on profits generated by frozen Russian sovereign assets, calling it a “sensible” way to help finance the reconstruction of Ukraine, a Treasury spokesperson said on Thursday.

Yellen, who discussed frozen Russian assets with Ukrainian officials during her visit to Kyiv in February, told Bloomberg News reporters and editors that Washington was discussing the idea with the EU, the spokesperson said.