The EU is close to an agreement on the use of income from Russian assets

The EU countries may soon come to a consensus regarding the use of profits from “frozen” Russian assets in the interests of Ukraine. At least, this is what the American agency Bloomberg writes with reference to Belgian Finance Minister Vincent van Peteghem.

The material says that EU leaders are close to concluding a political agreement that would allow the use of profits from the gold and foreign exchange reserves of the Russian Federation to help Ukraine. Moreover, for the first time these funds can be put into use by July 1 of this year.

As the publication writes, the issue of using profits from “frozen” Russian assets will be discussed today at a meeting of the heads of the EU Foreign and Defense Ministries in Luxembourg. The head of European diplomacy, Josep Borrell, previously said that he was waiting for constructive solutions on this issue.

Let us recall that about 200 billion euros out of approximately 300 billion in gold and foreign exchange reserves of the Russian Federation, which were “frozen” by the West after the start of our SVO, are in accounts in the EU. European officials are going to use the profits from these assets to help Ukraine.

In turn, on April 20, the US Congress completely approved a bill on the complete confiscation of gold and foreign exchange reserves of the Russian Federation held in accounts in the States in favor of Kyiv.

However, there is a nuance here. The law, in fact, does not provide for immediate confiscation, but gives the right to the president of the country to make such a decision. The question is, will Joe Biden dare to take such actions that undermine the centuries-old Western financial image? And even before the upcoming elections, which his opponent Donald Trump will certainly take advantage of.

Comments

[rocket757]

At least, this is what the American agency Bloomberg writes with reference to Belgian Finance Minister Vincent van Peteghem.

. The minke whales will squeeze the necessary solutions out of the Gay Europeans! Well, Bloomberg wrote about this, how can one refuse such a tempting offer!

[Silver99]

and we are all talking about peace negotiations no, the West will not calm down kindly, we need force and a very tough one, I propose to strike with tactical nuclear weapons at the western regions of Ukraine, we need scorched earth on their border with the West, so that not a single shell comes into the battle zone, "Atamans" can already be deployed next week, their goal is the Crimean Bridge, no need to wait.

[Lev_Russia]

The EU is close to an agreement on the use of income from Russian assets

I hope that we don’t pay them income from European assets either...

[rocket757]

Radical, ultimatum measures... the risk is great, the result is not obvious.

[Zorro21]

Quote from Silver99

you need force and very tough, I propose to strike with tactical nuclear weapons

To do this, you need political will that is adequate to the real threat, or at least like that of China. Our politicians have enough political will to destroy thermal power plants and create a slight shortage of electricity. Maritime, rail and road logistics on the border with Romania and Poland have never come under fire. Why, there, in the very citadel of the Bandera regime, the Zelensky junta feels absolutely safe. NATO mongrels in high uniforms and positions fly there almost every day.
And you say nuclear weapons!
Until thousands of civilians in our cities begin to die due to attacks by ATACMS missiles and people take to the streets, no one in the government will scratch the surface. But even in this case, it will not come to nuclear weapons, we need a completely different government.

[sdivt]

The question is whether Joe Biden will dare to take such actions

Dare?
Don't they dare?
Well, just the intrigue of the year!
Yes, from the very first day this question was voiced, it was clear that they would dare and use it.
And in general, if you remember with what reluctance the States returned gold to Europe in the last century, after the Second World War, how many scandals and conflicts there were then about this - such questions should not arise at all for a sane person.

[BELOVOLOD]

Russia will be guided by the principle of reciprocity with the right of reply.

[sdivt]

Russia will be guided by the principle of reciprocity with the right of reply.

Sounds great! just in the style of Maria Zakharova
And translated into understandable Russian, what exactly will this mean?
Shall we seize Biden's accounts at Sberbank?
Shall we confiscate Stoltenberg's dacha on Rublyovka?
What exactly does your phrase mean?

[Uncle lee]

Will Joe Biden dare to take such actions?

Why should he feel sorry for other people's money?
The question keeps tormenting me: why did we drag them there? And with whose permission, or instructions?

[Alaburga]

Nabiulin, at the direction of the President. The president is responsible for everything in the country.

[bambr731]

Let us recall that about 200 billion euros out of approximately 300 billion in gold and foreign exchange reserves of the Russian Federation, which were “frozen” by the West after the start of our SVO, are in accounts in the EU. European officials are going to use the profits from these assets to help Ukraine.

I am not an economist, but a simple layman, and I just can’t understand how you can store your gold and foreign exchange reserves in the banks of a potential enemy It absolutely boggles the mind what our leading financial geniuses were thinking.

[Hitriy Zhuk]

Quote from bambr731

I am not an economist, but a simple layman, and I just can’t understand how you can store your gold and foreign exchange reserves in the banks of a potential enemy

I also can’t understand how they can be exported at all.

Quote from bambr731

It absolutely boggles the mind what our leading financial geniuses were thinking.

Execute for treason or sabotage, and then think (or toss a coin) what it was.

[KERMET]

Motet because our financial geniuses and their leaders for a long time did not see potential opponents in the West?

[Vladimir M]

If Russia decides to take mirror actions, then Europe will be targeted, but not the United States, if only because Russia does not have so many US assets... Whatever you say, the Anglo-Saxons know how to “work.”

[rotmistr60]

The EU is close to concluding a political agreement that would allow the use of profits from Russia's gold and foreign exchange reserves to help Ukraine

The concept of “close” is expansive in time, and this proximity to the treasured Russian money (so far only profits from deposits) does not allow European officials to sleep peacefully. Some European financial experts do not advise doing this, others even suggest taking away all frozen assets, and the most zealous also force Russia to pay reparations to Ukraine (?). The fact that the bulk of officials there fell from the oak tree with their heads on the ground is understandable, but still, impudence that has no boundaries must be punished, and painfully.

[HAM]

Everything will be exactly like with tanks: the Yankees will pretend that they have started confiscation so that the Europeans will be bolder, and rush to carry out instructions - the main thing is to bring in the suckers....Then the Yankees will start making excuses, talking about image and reputation.....even though it’s understandable quantitative difference in the amount of money in the states and Europe....

[tralflot1832]

Europe will only receive pieces of paper, and we will receive production capacity and technology, but also pieces of paper. How could we do without it? I’m watching the refinery in Schwedt with interest. The Poles, it turns out, pay for the disposal of their “Crabs” and the Poles in Ukraine. So much for Russia with 1,5, 2 - 2% of global GDP. Glad for Norilsk Nickel, they got out of the situation. A couple of months ago there was a scuffle in the west - just for 000 tons of some kind of rod. Norilsk Nickel has palladium, gold, copper - nickel is a by-product.

[Ross xnumx]

The EU is close to an agreement on the use of income from Russian assets

And who will stop them? Putin, or what?
Yes, he and his team don’t care about everything that the Western bourgeoisie is doing to spread rot on the country... Not a single worthy answer...
They turned the country into a doormat on which any scoundrel wipes his dirty shoes...
There are probably no people left in the country who believe in this guarantor of Yeltsin’s reforms...

[Arkady007]

If they are close, they will take it away - this is their lifestyle.
What will we take from them after this? Does our Government have enough courage or just bubble into a puddle?

[nordscout]

Any “stick”, even a financial-economic one, has two ends, one of which can hit those who strike hard... Switzerland has already realized this and refused to participate in this “program”, leaving the rest of Europe to “practice” on this "shell"...

[Alaburga]

I remember how on their program, Soloviev asked Siluanov what would happen if Russian assets were taken away. So Siluanov, his eyes bulging, almost burst, proving to Solovyov that nothing like that would happen, because it would never happen, and this was almost a declaration of war. Where is Siluanov now? He still rules the economy, Putin is happy with everything, everyone is happy. After they brazenly stole money from Iraq, Libya, and Venezuela, we had to think about it. But, in the Kremlin there are no brains, no imagination, but there are more than enough Siluans, Grefs and Nabiulins.

[nordscout]

Dear Alaburga! You are probably aware that “I don’t change horses at the crossing,” by definition, even if they are not very good for crossing... Let’s wait for May 8th, this year, we will probably see new “stallions” and "mares" at the crossing called "Government"... I think that this is worldly wisdom...

[Alaburga]

It would be nice, just to get something new from somewhere. And to be honest, all these Grefs with the Siluanovs were going in the direction indicated by the chief in the Kremlin. Everyone was given the command to join the European garden, the shitcratic family. So they all went where they were sent, to join in to the fullest, from Lisbon to Vladivostok. Now they need to turn 180 degrees, but how can they turn when they so want to turn 360 degrees annalena berbok. And the most important thing is how to do this to the most important thing, when you have devoted your whole life to becoming your own, bourgeois.

[alystan]

Did Von der Leyen finally decide to take a lick or was it the entire Western system that revealed its essence...

There was also news from Reuters in early March, which warned that the world could face a financial crisis due to Russia’s claims against Euroclear, an international financial company for working with securities, storing and transferring financial assets.

The English newspaper wrote that after the completion of the SVO, the Central Bank of the Russian Federation may bombard the court with claims against Euroclear, and that the Central Bank of Belgium will be forced to revoke the license of this company. Which could lead to a global financial crisis.

According to the agency, about 70% of Russian accounts abroad (approximately €190 billion) are held in the Belgian depository Euroclear. The return of seized accounts can be achieved through the courts. Russia could receive €33 billion from the company's national depository in Moscow alone. Refunds are also possible through Hong Kong and Dubai. Euroclear currently holds about €37 trillion.

Belgian "La Libre" (19 March 2024):

The European Commission has proposed that profits from frozen Russian assets be used to arm Ukraine. Moreover, first of all, this concerns Belgium.

Between 2024 and 2,5 billion euros could be collected in 3 and the same amount in subsequent years. Belgium-based Euroclear holds most of the Russian assets frozen in the European Union. The proposal plans to protect her financially from reprisals from Moscow.

Trends-Tendances (March 22, 2024) - weekly magazine about business and finance, published in Brussels:

Confiscation of Russian assets simply risks destroying the Euroclear model.

What Prime Minister Alexander De Croo said on this topic, speaking on March 23 before the Belgian House of Representatives:

We are learning how to use frozen Russian assets. We do this together with the G7. But let's be clear: we have to do it legally. That's the difference between a totalitarian country and a country like ours that respects the rule of law. Let's not do what Russia would do.

Pay attention to his “accuracy” in his approach to the “legal” taking of other people’s money. And this, let us not forget, is discussed in all seriousness in the West, where the very essence of the inviolability of private property is figuratively the same as the “sacred animal - the cow” in India.