A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. A sign reads: "Bank of Russia". REUTERS/Shamil Zhumatov/File Photo
Financial Times: Washington puts forward G7 plan to confiscate $300bn in Russian assets
Proposal would accelerate preparations in time for a February summit to show solidarity with Ukraine
The US has proposed that working groups from the G7 explore ways to seize $300bn in frozen Russian assets, as the allies rush to agree a plan in time for the second anniversary of Moscow’s full-scale invasion of Ukraine.
While no decisions have been taken and the issue remains hotly debated inside European capitals, the acceleration of work on confiscating Moscow’s assets for Ukraine highlights its rising importance for the west.
The topic was discussed this month by both G7 finance ministers and their deputies, according to people briefed on the calls, which touched on how to develop such a policy and assess the risks involved.
Read more ....
Update #1: US Proposes G7 Explore Ways to Confiscate $300 Billion in Russian Assets -FT (Reuters)
Update #2: US wants $300 billion of Russian assets for Ukraine – NYT (RT)
WNU Editor: This is where Russia's assets are frozen .... Factbox-What and Where Are Russia's $300 Billion in Reserves Frozen in the West? (Reuters).
The Kremlin has warned that they will break diplomatic relations with any country if they move to confiscate these assets.
Update #3: Not surprised that these countries are having cold feet .... Germany, France, Italy, EU Cast Doubt on US Idea to Confiscate Russian Assets - Reports (Sputnik).
Update #4: More here .... Can the West fund the Ukraine war using Moscow’s money? (Semafor).
This is the death of the dollar.
ReplyDeleteThe whole idea that the Dollar is basic unit of exchange s base on two concepts stability and trust.
Well, you can now throw trust out the window.
If your bank takes other peoples money (depositors) and confiscates it, do you think I am going to keep my money there? Of course not.
Individuals and Nations see this. It translates to lack of trust, insecurity of investment wealth.
What will stop the US, in the future, in confiscating anyones money for any reason?
The thinking will be: "If they can do this to the Russians, they can do it to me too."
This act of the USA is really stupid.
No more BLACK ROCK WARS. No more coalitions, doing your dirty work.
ReplyDeleteEurope will not participate in any economic war of injustice and lies.
Neocons: "Do it" (hoping it will hurt russia)
ReplyDeleteMe: "Do it" (knowing it will destroy the dollar)
Brothers, on this topic there are no disagreements to be found. From the humble chud to the mightiest ukronazi, all amongst us agree that this plan needs to happen, and FAST!