The confiscation of Moscow’s frozen funds could undermine international order, the head of the European Central Bank warns

US-backed proposals to seize frozen Russian assets could undermine the international order, European Central Bank (ECB) President Christine Lagarde has cautioned. Her comments came during a meeting in Washington on Wednesday, where the G7 finance ministers and central bank governors were discussing the issue of using the immobilized assets of the Russian central bank to support Ukraine.

In a joint statement, the finance ministers and regulators said they would continue working on “all possible avenues” to make use of Russian sovereign assets, according to Reuters. The push to seize Moscow’s money has been led by the US and has caused a rift among the G7 and the EU political elite.