Group of Seven leaders agreed at a summit in Italy on Thursday to give Ukraine $50 billion using frozen Russian Central Bank assets, a step that marks a significant escalation in the economic war against Russia.
The plan is to provide the $50 billion to Ukraine by the end of the year in the form of a loan, which will be paid back using profits from the approximately $280 billion in frozen Russian assets held by the US and its allies.
The idea is seen as a compromise between the US and Europe, as President Biden wanted to steal all of the frozen Russian funds to give to Ukraine. But the vast majority of the money is held in Europe, and EU leaders were hesitant to do that.
Instead, the EU devised a separate plan to provide Ukraine with about $3 billion per year using the interest made by the Russian assets. Ukraine said that amount wasn’t enough, and the US proposed the $50 billion loan.
“This has been something that the United States has put a lot of energy and effort into,” National Security Advisor Jake Sullivan told reporters. “We see proceeds from these assets as a valuable source of resources for Ukraine at a moment when Russia continues to brutalize the country, not just through military action on the front but through the attempted destruction of its energy grid and its economic vitality.”
Russia has made clear it would view either plan as the theft of its sovereign funds and is preparing to retaliate. Stealing the money makes reconciliation between Russia and the West even less likely since lifting sanctions would mean having to give assets back to Moscow that have already been spent. The move will also reduce faith in the Western banking system and speed up global de-dollarization.
OK, so then the developing countries should immediately nationalize American companies and seize their assets?
Do it now while American assets are still worth something.
And how are my tankies doing today? Hahaha.
https://tradingeconomics.com/russia/stock-market
You had one last chance, Ratio, and you blew it – had to eke in one more (one LAST) racial slur at me. You're Blocked.
Tell me, tho, Ratio – did you get either the DM or e-mails I sent you on Tuesday ?
No. I did not. (I also knew you were going to block me. You can’t handle the truth.)
Just wanted to confirm you saw that you're now Blocked, and why.
Be a better human, Rational Thinker.
Everyone else – be aware Rational Thinker is openly and unabashedly racist.
Also – I never sent him any message on Tuesday. That was baiting him into confirming he'd seen my notice I'm done with his racist clownjobbery.
He's on the same side as the Azov Brigade Neo Nazis, so of course he's racist >_>
Well, I'd say the Russian stock market is doing not too badly, if that's what you were asking:
https://uploads.disquscdn.com/images/f425c1f7731f6b9c04ab2d4a4417f722f4bb0a1b6ee7932dab28145ee4b27ccc.png
Is it though?
The US/EU assets in Russia are far greater than the frozen assets of the Russian Central Bank in the EU and the US and they will be confiscated by Russia. The EU, if it agrees to the 50 billion USD loan to 407, will be in deep trouble as the only country that benefits is the US and the EU will be taken to the cleaners. Meanwhile over 50 countries have applied for membership in the BRICS and the other associated organizations. Russia has stopped all trade in USD and China is dumping USD gov't paper.
And so the death of the US $ as the world reserve currency continues … if I'm Chinese or Saudi or etc. I am thinking rather carefully about the security of my $ investments these days …
All of us USians here, especially retired or soon to be retired ones, remember these days as the value of your savings disappear over the next few years through inevitable inflation.
RTFO!
ROTFLMAO!
1. G7 steals RF money.
2. Gives to Ukraine.
3. Ukraine buys military hardware from G7 using stolen RF money.
4. RF money is now laundered & in G7 accounts !
Why didn't Organized Crime ever think of this ??
"Why didn't Organized Crime ever think of this ??"
The corporate state IS "Organized Crime".
Hahaha, I was being ironical (sic) but yeah, you're 100% correct.
After such a laundering, all their house looks much dirtier than ever before.
What LAW allows for this confiscation of assets? The Palestinians need some good lawyers so they can go after ALL the assets of Zionist around the World, sponsoring the Genocide. Palestinians should OWN all of Israel, for the atrocities the Israeli Zionist have committed.
UNR 194 and ICJ advisory opinion (2004) already define in international law that the gov’t in Tel Aviv is liable for damages.
Our Constitution doesn't. An illegal taking under the 4th and 5th Amendments.
Instead, the EU devised a separate plan to provide Ukraine with about $3 billion per year using the interest made by the Russian assets. Ukraine said that amount wasn’t enough, and the US proposed the $50 billion loan.
You wonder why those who are providing the billions don't get irritated by Ukraine's constant lack of gratitude. I guess they don't have any other takers to be fodder so they have to put up with a little lip once in a while. Ukraine should be demanding much more, they have the bargaining chips. 100 billion or they walk!
So we're governed by a bunch of crooks. No surprise there.
Doesn't matter how much money Ukraine gets – it doesn't have any men left to use the weapons it might buy and those weapons will arrive too late anyway. The only benefit Ukraine gets from this money is more of it goes into the pockets of the corrupt politicians. Not to mention calling anything a "loan" to Ukraine is risible since the country won't exist by end of this year so getting "paid back" is impossible.
All this shows how idiotic the West is. Every single government is living in la-la land.
… or it shows the decision has been made for direct NATO-Russia war. They're burning the bridges.
The money is needed to pay Zelensky and Azov people's salaries.
"…Azov people's salaries."
It's not listed on currency exchanges – what is the conversion from $USD to 4th-reichmarks ?
I don’t think a 4th Reich will exist, the Reich, after Scholz, will join the club of developing nations if anything is left. The $$$ is not even usable for toilet tissue.
I wonder, R-SHack ("R Shack, baby !"), if NATO in ginning up a case to intervene to prevent Ukraine from defaulting on the loans, like the USA did when joining WW1 on the Allied side?
("R Shack, baby !"),
Not your best work. Not bad though.
Not really a good idea to steal money from the biggest & best armed state on the planet. What could possibly go wrong…?????!!!!!!!
They are evil and deranged people, a bad brew.
Oh I soooooo hope some of the stolen money belongs to Russian Mafia. Oh ho ho, they'd respond in spectacular fashion. The Americans think they had a challenge with Al Qaedenese asymmetric warfare ?
Senile Genocide Joe just won't give up until he gets into into a hot war with Russia AND China, And let's not forget about his Zionst palsto kill more Palestinians.
Is senile Joe's signature on anything even legal, Zelensky's term has ended, two nations without leadership, add the Tel Aviv asylum savages. Nothing but mentally disabled empty heads of state.
The more Ukraine get through this, the more Russia will take out of this
https://www.newsweek.com/moscow-stock-exchange-trade-halted-ruble-collapse-sanctions-1912161
It seems like they almost want the collapse of the U.S. dollar.
Sorry? Which do you think is collapsing?
https://www.xe.com/currencyconverter/convert/?Amount=1&From=RUB&To=USD
Our friend doesn’t realize the “strong dollar” comes at the cost of paying the highest interest rates:
10Y Bond Country
0.862% … Japan
2.286% …| China
2.432% … Germany
2.952% …| France
3.773% …/ Canada
3.847% …| Italy
4.288% … U.K.
4.631% … U.S.A.
The destruction of the international order: state-sponsored armed robbery to wage war. Anarchy to replace a rule-based system. What a progress!
The theft of the Century belongs to G7 and boy they've openned a can of worms… to come back and hunt them…!
They are as brutal and crazy as any dictator they have put in power with regime change. Birds of a feather.
The USA and Israel and NATO took off the velvet gloves showing the whole world democracies are as bad, criminal and brutal as any brutal RW dictator they have put in power.
No dictator has the weapons to equal their brutality. They have used nuclear weapons and are in possession and produce chemical weapons, they starve people to death, deny medical supplies and shelter, they incarcerate and torture people, including women and children, their brutalities equals any dictatorship. Democratic USA kept slavery legal longer than other nations. Morally the democracies are no better than any other brutal heads of state, Hiroshima and Nagasaki confirm that.
Zionist Israel is proof of this dehumanized disaster of so-called civilized nations, they are savages they could stop the butchery in Gaza and Ukraine instead they double down.
Once again proving that the West is a lawless criminal group of untrustworthy Globalists.
President Putin / Russia is the only country saving traditional Western Civilization from a new dark ages.
Where is the Petrodollar? It's 50 year agreement between the US and Saudi Arabia expired on Sunday. Why is the western media not talking about it? Might it be because it will mean a higher COL for Americans? And less financing for DC's Wars.
Then geopolitically, do we really think, as Blinken likes to report, Saudi-Israel normalization is getting closer?
It is stealing. Everyone knows it's stealing. But the perpetrators worked very hard to make it look like it's not stealing.
This exemplifies how things are accomplished in a "rules based order". There is nothing, no matter how sacred, that can't be spun by these double-dealing snake oil sellers.
If the goal is to convince anyone that this is NOT stealing, they have failed. Lenders are looking for ways to protect themselves from similar treatment. Voters can see through the scheme with ease. I predict that when Russia challenges this in an honest court of law, they will win. I also predict that any leader who signs on to this scheme will be removed from office at the next election.
"A loan": hahahaha, very funny.
But IF Ukraine is somehow unable to pay us back, the serious consequence Ukraine will face is…?
The opportunity to steal money from their enemy while further cornering their western patrons into throwing good money after bad.
Lose lose lose, and delay losing a little longer. What a deal all around.
I take this theft as an indication of how desperate the US imperial administration is feeling. The entire Ukraine war has gone exactly opposite to US expectations, and stealing $50 Billion of Russian treasure is going to hurt the standing of the US dollar more than it helps Ukraine's war effort. (Not to mention that a lot of that money may be siphoned off to corrupt Ukrainian profiteers.)
It becomes more and more plain that the US Empire sees the Ukraine war as an existential battle for survival and is willing to risk even more in the hope of defeating Russia. At this point there is no prospect of defeating Russia on the battlefield of Ukraine, but the hope remains of draining Russia economically.
So on we climb up the escalation ladder. How far are the imperial engineers willing to go?
For Biden and the neocons to think they could do a regime change of a popular president of the nuclear power in Moscow and break it in pieces is about as idiotic as one can imagine. Trump and neocons couldn't do a regime change in Venezuela with Guaida, what made Biden think he could do it in Russia?
Who in that asylum of crazy animals is in charge?
A deranged president, a stupid former clown, a criminal, viscous animal in Tel Aviv and all the incompetent trash around them does not bode well, they have to go.
Saudi Arabia going off the petrodollar. Smart boy, that Mohammed bin Salman!
Don’t be too sure about that.
Under Biden any crime goes, he has criminalized everything. He or the idiots around him, who comes up with such idiotic ideas? And the idiots in Europe are spineless dehumanized human animals. No real animal behaves like that dreck in Washington, Tel Aviv and Europe.
Biden's legacy and the US empire will be nothing but scorched earth. No empire in past history I know of went to hell as fast as the American empire. The Israelis and the US are at the top of the brutality scale of genocide in Gaza.
So when the nukes finally drop, you can say, “they had it coming.”