G7 agrees on transfer of $50 billion in profits from frozen Russian assets to Ukraine
G7 agrees on transfer of $50 billion in profits from frozen Russian assets to Ukraine
"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
About damn time.
Damn straight. Ukraine needs help now western countries!
Give them weapons,money and troops to defeat the Russian Empire.
While Western countries have frozen $300 billion in Russian assets, they can only access the income generated by these funds, approximately $3.2 billion, annually.
By setting up a fund with loans to be repaid using this income, countries can offer immediate support to Ukraine beyond this amount.
I wonder why they cant liquidate a percentage of any of the currently held assets? I guess most are intangible? Or some other international law preventing direct asset control
They probably can, but it's a further escalation in sanctions and would set a precedent that investments in another country aren't safe.
By holding them, it also gives an incentive to end the war. Stop the war and get 300 billion back!
Edit: someone else referred to it as the carrot (held money) and the stick (donated weapons). Carrot and stick is better than stick and stick. Better up to a point anyway...
Another article said it was mostly the IMF objecting worried about trust in the international banking system and the precedent it would set
Because rich people don't want the precedent that their money can be taken if they do bad things.
i assume its an estimation on how much they can liquidate 50b assets. its an insane amount of money, my neighbor is selling their house and its still up years later.
For bank interest, stock dividends, matured bonds, those are cash, so those are easy.
For stock, real estate, and other non-liquid assets appreciation, probably not so easy.
LOL
Brah.. NATO is pretty effed up. They're just using Ukraine, killing off many of their citizens who are forced to enlist... all so that NATO can be bordered right next to Russia. Well.. and Ukraine's delicious resources that the U.S. plans to exploit.
I wonder how NATO thinks this is going to pan out.. They can't even get the foreigners that are volunteering to fight against Russia to work together. They're shooting each other in the battlefield and Russia is like.. wtf?
I genuinely feel bad for Ukrainians. Not the Neo-Nazis nor the high paid actor running the country into the ground.
Just because the YouTuber that told you this isn't Russian, doesn't mean it's not Russian propaganda.
No... all of that is accurate. Ukraine is just another puppet of NATO. NATO doesn't actually give a fk about the citizens of Ukraine. It just wants to establish itself into the territory for a few benefits. And not only were foreigners who volunteered to help Ukraine start having a firefight amongst themselves lmao... but Russia found out one of the ways that these foreigners are getting advertised to and enlisting.. after catching a Colombian man.. a South American man fighting on behalf of Ukraine.