After about 23:15 in Scott Galloway's new Conversation with Fareed Zakaria — The Conflict in Israel and the State of Foreign Affairs addresses a possible western solution to "Western fatigue" from the war in Ukraine, including some recent changes in the political landscapes in Europe and Ukraine and the US presidential election in 2024:
From the YouTube transcript (lightly edited for clarity):
I think that's the critical thing to look at. The Ukrainians are not going to give up. This is their land, this is their - this is existential for them.The question is, will they run out of money and weapons, and that's all on the West.
I have begun to feel that one solution to this problem might be for us to seriously take and try to do what a number of very smart experts and senior policy officials have been saying which is, let's tap the Russian funds that are frozen from the Russian Central Bank. It's about $320 billion, and (if) we start getting that money flowing to Ukraine as reconstruction as reparations call it what you will, money is fungible, that both gives Ukraine a cushion it also sends a signal to the Russians that 'Look, you know you can't out-wait us."
The Russian strategy right now is pretty clear - they're waiting for the 2024 election. They think there's a 50% chance Donald Trump will win, Trump will sell the Ukrainians down the river may cut a deal with Putin.
Well what if you had this independent mechanism set up by an independent agency - maybe the European Union or something like that, that is just sending this money on the basis - and as Larry Summers the foreign treasury secretary has said, "this is unprecedented but so is the naked aggression that Russia to you know engage that and if the lesson if the if the president you're setting is your your your foreign exchange reserves and your Central Bank Reserves are sacrosanct 'unless you brutally invade your neighbor in which case all bets are off', that's not a bad precedent."
Question: In what context did Larry Summers (the Director of the US National Economic Council) say that sending Russian foreign exchange and/or central bank reserves to Ukraine would 'not be setting a bad precedent'?
Was this part of a prepared statement, an interview, a response to a reporter's question? Is there a transcript or recording available?