Europe Agrees to Give Russia's Billions to Ukraine

Newsweek ^ | May 21, 2024 | Isabel van Brugen

[canuck_conservative]

Russian central bank assets.

Czech Foreign Minister Jan Lipavsky said the move will hand Ukraine up to €3 billion (about $3.3 billion) this year.

"We have approved in the EU using revenues from Russia's central bank's frozen assets to help Ukraine," wrote Lipavsky on X, formerly Twitter. "Up to €3B only this year, 90% goes for Ukraine's military. Russia must pay for its war damages."

The financial assets were frozen shortly after Russia launched a full-scale invasion of Ukraine in February 2022.

Reuters reported this month that the EU has estimated that by 2027, windfall profits from Russia's central bank assets frozen in the world's largest trading bloc could reach €20 billion (about $21.7 billion). The frozen assets have been gaining a huge amount of interest because they are stuck.

More than two-thirds of Russia's frozen sovereign assets are stashed in the EU...

[canuck_conservative]

Note - NOT seizing the Russian assets held in Europe, only the revenues they generate

Those concerned about the US taxpayer "on the hook" should be quite relieved now

[Highest Authority]

Does the EU expect that Russia will take this lying down? They could be draging Europe in to a war. The MIC will be very happy.

[Jane Long]

Does the EU expect that Russia will take this lying down?

---

Exactly.

Meanwhile, Samantha Power, Blackrock, Goldman Sachs have all been “awarded” sweet paybacks, er, deals ... funded by our tax dollars.

[desertsolitaire]

Besides the unknown response Russia will take here, isn’t there also some concern here for what creating this precedent does for all future business and investments? Unintended consequences of this action?

[Nervous Tick]

You are an amazingly short-sighted ass.

There will be nasty repercussions from this folly throughout the monetary systems of the western world.

[bert]

Mother Russia is on her ass and can do nothing.

The assets are reparations of war and no longer Russian

[canuck_conservative]

I thought you said stealing was OK?

Russia is stealing land that it doesn’t own in Georgia, Moldova, and Ukraine, and you not only DON’T complain about it or condemn Russia, you even cheer on Russia to take more!

So, the EU is just copying Russia’s move, right?

[aMorePerfectUnion]

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[aMorePerfectUnion]

Hence the acceleration of BRICs.

[icclearly]

There will be nasty repercussions from this folly throughout the monetary systems of the western world.

Let me fix that...

There will be are nasty repercussions from this folly throughout the monetary systems of the western world.

Yes, already! BRICS, BRICS, BRICS, and other countries selling of US bonds -- on steroids (who wants to hold them?).

There goes our "printed money" scam.

[Chickensoup]

Europe agrees with who or what?

[BlackbirdSST]

Russia is stealing land that it doesn’t own in Georgia, Moldova, and Ukraine, and you not only DON’T complain about it or condemn Russia, you even cheer on Russia to take more! So, the EU is just copying Russia’s move, right?

This is the kind of wisdom that flows from the simple minded.

[redfreedom]

And this improves the outcome of the war how?

Just because the Euro’s will be giving the Ukes this money does not necessarily mean relief to US tax payers.

I suspect there will be some sort of retaliation from the Ruskies over this.

It’s waaaaaaaaaaaaay too late for this to be undone, but Russia could have been our ally in deterring our true enemy, Red China, had history’s recipe for creating allies been used. That history lesson is where we beat Japan and Germany and then treated them fairly after the war during reconstruction. Had Russia been treated fairly after Reagan caused the collapse of the Evil Empire, there’s a good chance there would be no war today.

[desertsolitaire]

Repeating earlier wrongs does little to improve the situation. I don’t see any plausible way of returning Ukraine to to it’s immediate post-Soviet condition and much was done by multiple players after that to get us where it is now. So many have died and many more doomed to follow them and the country destroyed. Did anyone involved here pause at any point to consider the consequences of what they were doing before they did it?

[bert]

Mother Russia lacks the wherewithal to react in a way that is any danger to the Europeans.

The confiscated assets are reparations to begin payment for the intentional war damage to Ukranian public and private property. The final reparations will be 50% of the Russian oil and gas revenues for decades until the destruction is all paid for

[redgolum]

Interesting precedent, and not a good one. But it seems like WWIII is going to happen on schedule so enjoy the ride. The last drop is a big one though.

[Tench_Coxe]

My theory: Its also why “the West” is trying to lock down currencies (CBDCs). Concern about capital flight.

[wildcard_redneck]

Trust a Zeeper to support every asinine act of leftist thugs. Disgusting.

[Sunsong]

finally!

“Russia must pay for its war damages.”

The financial assets were frozen shortly after Russia launched a full-scale invasion of Ukraine in February 2022.”