Some Western banks are lobbying against an EU plan to use profits made by Russian central bank funds that are frozen in Europe to arm Ukraine, Reuters reported on Thursday.
The European Commission has proposed sending up to 3 billion euros to Ukraine per year using the revenue. About 90% would go to a fund called the “European Peace Facility” that can be used to buy weapons for Ukraine, and the remaining funds would go to the EU’s central budget for other types of aid.
Russia has slammed the plan and has vowed to respond. “This is outright banditry and theft. These actions are a gross and unprecedented violation of basic international norms. We said that we would respond, and so we shall,” Russian Foreign Ministry spokeswoman Maria Zakharova said on Wednesday.
Sources told Reuters that banks fear they could be held liable by Russia in the future for being involved in the transaction. The report said once sanctions on Russia are eased or lifted, they could face decades of legal action.
The banks also worry the move would erode trust in the Western banking system. One source said it would set a bad precedent and that stealing the funds would amount to the “weaponization of foreign-held reserves and assets.”
The US is looking to take an even more extreme measure by giving all of the Russian funds to Ukraine, not just the profit and interest. Last month, Treasury Secretary Janet Yellen came out strongly in favor of the idea.
“It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine’s continued resistance and long-term reconstruction,” Yellen said.
Legislation to give the Russian money to Ukraine has been introduced in Congress and has received bipartisan support, but the bills have yet to be voted on. About $67 billion in Russian central bank funds are held in the US, while over $200 billion is held in Europe.
Taking Russia’s profits is not enough. The free world should take everything in every Russian account and give it to Ukraine. And of course the goal on the battlefield should be unconditional surrender.
Russia should eliminate the Nazis in Kiev then take all lands that have been part of the Russian Empire for centuries.
Hungary, Romania, and Poland should acquire the remaining lands that belong to them historically!
And I should spend a long weekend in a luxury hotel suite with Jennifer Lawrence.
But, like “all the lands that have been part of the Russian empire” in the past, Jen has the ability to say no and make it stick.
Last night’s missile and drone raids on electrical generating plants left Ukraine
cold and dark. To quote the old phrase: “The End Is Near”.
Ukraine has always been a sore spot of the Czarist Empire and the Soviet Union. When the Soviet Union collapsed the little uppity kid could suddenly show its muscle which it did in 2014, with our support. In addition, the now independent Ukraine had acquired three ice free ports on the Black Sea: Odessa, Sevastopol, and Mariupol which Russia had once wrested from the Ottomans. Joining NATO and or the EU would then bring NATO and EU onto the shores of Russia and potentially block its access to the Black Sea from Azov. I firmly believe that this is one core of the war.
Hence there is a rational construction available for ending this insane war: Russia keeps Crimea and Sevastopol. Mariupol goes back to Ukraine. The remainder of the currently occupied territories are allowed to vote on a modest degree of self-rule.
The independence of Ukraine can only be assured by an joint agreement of NATO, EU and Russia. Even winning this war will not do that.
…and yet Israel goes back a couple of thousands of years to make land claims.
And the Mongol Empire should acquire the remaining lands that belong to them historically!
https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fht1luq8rwd601.jpg%3Fauto%3Dwebp%26s%3Deda3fad337a315a08b3294d7801b10fb7a8e26e6&rdt=34896
bingo
Great idea!! A “one time” feel-good action that will end banking, the US dollar and financial rules. Pretty much the end of the “Free world”.
That will not end any banking nor any US financial institutions. It will only hurt and end Russia’s.
So who gives a damn. F Putin and his Neo Nazis supporters.
Wrong, see above
Wrong. See below.
And of course the goal on the battlefield should be unconditional surrender.
That Kiev has come very close to achieving for itself…
One more Spring offensive ought to do it.
Bwahaha!
Oh yeah, from taking Kyiv in 3 days over two years ago to now Kyiv will surrender next spring. 🤣lol
You Putin lovers are so delusional.
It’s just sad.
Well, this wouldn’t be the first time, the Congressional seals have clapped mindlessly for a foreign leader who does not have U.S.’s the best interests.
Official US armed theft is a bipartisan policy if creepy congress [eople. The US steals oil from Syria, Venezuela and Iran, for example. US finances are as shaky as the morals if the average US voter.
Any reliable proof for that claim?
Which one?
“The US steals oil from Syria, Venezuela and Iran, for example. “
I don’t save links yet I think even dimwits are aware the US stole Conoco Oil Co. and England kept Venezuela’s gold. Few with other choices will use US or English banks. Photos of sleazy US uniformed pirates stealing Syrian oil and wheat are all over the web.
https://www.aljazeera.com/news/2022/8/22/us-court-backs-conoco-8-7bn-award-for-seized-venezuelan-assets
If Russia didn’t give a damn about consequences for invading and annexing Ukraine, why should the West care what Russia thinks about their frozen money.
Give it to Ukraine, Putin can go eat a D!ck.
The West doesn’t think about consequences. That’s why it’s in the sorryass state it’s in.
https://www.npr.org/2024/01/25/1226811891/economy-gdp-recession-growth-interest-rates-inflation-federal-reserve
Europe’s economy is a little wonky but the US is doing fine.
Another Trillion in debt every 10 days is not doing fine.
Doing. Fine.
Children who live with their parents don’t understand such things as debt.
Maybe there’s a relationship between US prosperity and EU pauperity.
Maybe there’s a relationship between Ukraine doing really bad and Russia doing worse.
Yep just like Russia.who is doing way way worse.
You fail to mention why Putin invaded Ukraine , you are just like the rest of the American LACKEYS .
I didn’t fail to mention anything. I have addressed that a million times.
Russia wants Ukraine natural resources and wants to turn Ukraine into another Belarus because it believes Ukraine is not a nation and it belongs to Russia.
You are just like the rest of the TANKIES of the internet.
Beginning in 2014, at the behest of neocon Nuland, Ukraine began shelling Norrhern Ukraine, specifically the Donna’s region to ethnically cleanse the. region of
it’s native Russian population; this resulted in 15k civilian deaths and casualties in the 10’s of thousands.
They asked Mr. Put in for help.
Under UN Rule 8 this was a legal request.
Oh Nuland. The President of the USA.
Ukraine Shelling what?
That’s just BS.
Get educated. Use the internet and do some research.
And BTW, Russia started this sh!t when they took Crimea so don’t lecture me with your Kremlin propaganda.
As this hurts the West far more than it’s target Russia, I wholeheartedly support the move.
Damn!.. I may just end up voting for ol’ Joe.
…Another words… Self Destruction…!
Extreme protest would be other words.
Free Free Palestine!
– Aaron Bushnell –
Free free Ukraine.
Fcking Hypocrite. You guys’ morals are all over the place.
Your Ukraine is toast after their cowardly attack in Moscow.
So is anyone who put them up to it.
I too support it so don’t be b!tching about it later.
You support it.
Knock yourself out.
Like the Nike commercial: “Just Do It!” But the commercial doesn’t tell you, “but, be careful not to break your own neck.” I don’t care. My neck is old and tired. I can replace it I think.
Digging their own grave and buried with broken neck…!
My neck is old and tired. I can replace it I think.
But is that covered under Obamacare?.. Have fun down in Mexico!
LOL. It’s not, but they would probably remove my kidneys and liver! See the Shameless episode when they told Frank they were giving him a liver in a shed, but they removed his kidney.
https://www.indianpunchline.com/putins-victory-is-a-geopolitical-reality/
Putin’s Victory Is A Geopolitical Reality
About 90% would go to a fund called the “European Peace Facility” that can be used to buy weapons for Ukraine.
1984 lingo.
Right you are.
Russophobia and racism against Russia are nothing new.
Abrogating the rule of law to satisfy some short term political feel good actions is detrimental in the long run.
If theft of a nation’s wealth is allowed; in the future the precedent may allow the theft of American or any European countries wealth.
It would also allow the reclamation of stolen assets.
How do you say marque of reprisal in Russian?
Europe has already said to get ready for war if there is to be peace. That’s pretty clear of their intentions. Here’s lots of articles to consider: https://duckduckgo.com/?t=lm&q=europe+to+get+ready+for+war&ia=web
(duck is a search engine like google)
Europe said get ready for war.
Russia is already at war invading and annexing.
That’s Russia and Ukraine’s problem, and Europe’s if they want another war, it’s no business of the USA. People in the USA don’t exist to police the world and insure profits for those who benefit from killing other human beings and destroying their homes and countries.
If all the little Gnome States in NATO and the Western anti Russian alliance maybe wanna check what sort of damage Russian Super Nukes could do not their cities befoe getting involved inn this dangerous scheme. At some point or another Russia couldn’t decide ton demonstrate to the world just what life would be like for those who push Russia percent the reasons why messing with the Big Nuclear Bear could wreck your whole country, Or don they think Russia will continue to take all the abuse that is inflicted on her without the glover ever coming off…???
TASS: Russia sees Israeli strikes on Syria as violation of international law — envoy to UN.
Haha. What a joke Russia has become.
If your worried about trust in western finance being compromised James and Engoron in NYC already did that!