How much is Europe kicking in to protect itself from the big bad Russian bear?
ARTICLE
Bloomberg: G7, EU discuss using $250 billion frozen Russian assets for Ukraine rebuild
04/02/2024
https://euromaidanpress.com/2024/02/04/bloomberg-g7-eu-discuss-using-250-billion-frozen-russian-assets-for-ukraine-rebuild/
The G7 and the European Union are exploring a plan to leverage over $250 billion in frozen Russian central bank assets to finance Ukraine’s post-war reconstruction, sources tell Bloomberg. The strategy includes issuing debt against these assets, with discussions still at a technical level.
The G7 and the European Union are in discussions about a proposal to utilize over $250 billion in frozen Russian central bank assets as SECURITY for financing Ukraine’s reconstruction efforts, according to sources knowledgeable about the situation, Bloomberg says.
The proposal suggests that Ukraine’s allies might issue debt, secured by the frozen Russian assets, to finance the rebuilding of the war-damaged country. Advocates argue that, according to international law, Russia would likely be held responsible for reparations due to the destruction caused.
If Russia were to refuse payment, the frozen assets could then be targeted to cover the claims, according to sources.
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How much is Europe kicking in to protect itself from the big bad Russian bear?
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Here is the answer! :
Ukraine Support Tracker: Europe clearly overtakes US, with total commitments now twice as large
https://www.ifw-kiel.de/publications/news/ukraine-support-tracker-europe-clearly-overtakes-us-with-total-commitments-now-twice-as-large/#:~:text=Europe%20has%20clearly%20overtaken%20the,with%20new%20multi%2Dyear%20packages.
EU voted unanimously to support Ukraine with $50 billion. Putin’s friend in Hungary, Orban, was given a month to make up his mind back in December, but basically was told to make a choice, Europe or Russia, and he chose Europe. Some countries are also making individual contributions. It looks like level of support will be pretty even if we get a Ukraine defense bill approved soon.
Since the NOT war started 2/22, EU has given Ukraine more than $88 billion in support. Biden has given more than $75 billion in support. More information at the link below. Click the questions for answers.