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Delusional David Cameron Wants to Steal Russian Assets as 'Surety' to Bail Out Ukraine
Delusional David Cameron Wants to Steal Russian Assets as 'Surety' to Bail Out Ukraine
Sputnik International
Some $300 billion in Russian assets were trapped abroad in 2022 following the escalation of the US proxy war in Ukraine. Under pressure from Kiev, there have been continued attempts by the West to seize those assets and give them to Ukraine.
2024-03-07T23:03+0000
2024-03-07T23:03+0000
2024-03-07T23:39+0000
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Britain is prepared to loan Ukraine all frozen Russian central bank assets in the United Kingdom on the belief that it will pay those loans back with Russian "reparations" following the end of the war, says UK foreign secretary David Cameron.Western countries have previously pledged a total of several billion dollars toward rebuilding Ukraine, including investment pledges from dozens of major multinational corporations. And in late January, Belgium announced it would allocate €611 million ($663 million) to help Kiev in 2024 using the profits they received from the frozen Russian assets.But Cameron’s announcement this week is the most extreme proposal thus far, as the previous proposals only discussed giving Ukraine the “windfall profits” from the frozen assets which are estimated to be about $4 billion.US Treasury Secretary Janet Yellen has also proposed finding a “way to unlock” the assets to support Ukraine.The G7 itself has questioned whether seizing the assets could undermine faith in the international financial system. And Belgium, which is believed to control as much as €190 billion ($208 billion) of the assets, is the most resistant to follow Cameron’s plan. It is reportedly facing a series of court cases in Russia, and its stance on the issue has the backing of both France and Germany.Cameron excuses his proposal on the basis that Ukraine will win the war against Russia, and that Moscow will have to pay reparations to Kiev. But the idea that Ukraine could win a military victory against Russia is unimaginable. More and more Western media outlets have been acknowledging Russia's success on the battlefield.Moscow has maintained that any attempt to confiscate its frozen assets would violate international law, with the Russian Foreign Ministry labeling such an action as theft.Russian Finance Minister Anton Siluanov has also said that Moscow is willing to issue a “symmetrical" response to this form of Western financial aggression.“We have no fewer frozen [assets than Western countries],” Siluanov said in an interview with Sputnik last month. “Any actions taken against our assets would receive a symmetrical response.
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Delusional David Cameron Wants to Steal Russian Assets as 'Surety' to Bail Out Ukraine
23:03 GMT 07.03.2024 (Updated: 23:39 GMT 07.03.2024) Some $300 billion in Russian assets were trapped abroad in 2022 following the escalation of the US proxy war in Ukraine. Under pressure from Kiev, there have been continued attempts by the West to seize those assets and give them to Ukraine.
Britain is prepared to loan Ukraine all frozen Russian central bank assets in the United Kingdom on the belief that it will pay those loans back with Russian "reparations" following the end of the war, says UK foreign secretary David Cameron.
Western countries have previously pledged a total of several billion dollars toward rebuilding Ukraine, including investment pledges from dozens of major multinational corporations. And in late
January, Belgium announced it would allocate €611 million ($663 million) to help Kiev in 2024 using the profits they received from the frozen Russian assets.
But Cameron’s announcement this week is the most extreme proposal thus far, as the previous proposals only discussed giving Ukraine the “windfall profits” from the frozen assets which are estimated to be about $4 billion.
“There is an opportunity to use something like a syndicated loan or a bond that effectively uses the frozen Russian assets as a surety to give that money to the Ukrainians knowing that we will recoup it when reparations are paid by Russia. That may be a better way of doing it. We are aiming for the maximum amount of G7 and EU unity on this but if we cannot get it I think we will have to move ahead with allies that want to take this action,” said Cameron on Tuesday, most likely referring to the United States.
US Treasury Secretary Janet Yellen has also proposed finding a “way to unlock” the assets to support Ukraine.
“I believe there is a strong international law, economic and moral case for moving forward. This would be a decisive response to Russia’s unprecedented threat to global stability,” Yellen said at a meeting of G20 finance ministers last month.
The G7 itself has questioned whether seizing the assets could undermine faith in the international financial system. And Belgium, which is believed to control as much as €190 billion ($208 billion) of the assets, is the most resistant to follow Cameron’s plan. It is reportedly facing a series of court cases in Russia, and its stance on the issue has the backing of both France and Germany.
Cameron excuses his proposal on the basis that Ukraine will win the war against Russia, and that Moscow will have to pay reparations to Kiev. But the idea that Ukraine could win a military victory against Russia is unimaginable. More and more Western media outlets have been acknowledging Russia's success on the battlefield. Moscow has maintained that any attempt to confiscate its frozen assets would violate international law, with the Russian Foreign Ministry labeling such an action as theft.
"Those who are trying to initiate this, and those who will implement it, must understand that Russia will never leave those who did this alone. And it will constantly exercise its right to a legal battle, internationally, nationally or otherwise. And this, of course, will have — both Europeans and Americans understand this very well — it will have legal consequences for those who initiated and implemented it," Kremlin spokesman Dmitry Peskov said in December.
Russian Finance Minister Anton Siluanov has also said that Moscow is willing to issue a “symmetrical" response to this form of Western financial aggression.
“We have no fewer frozen [assets than Western countries],” Siluanov said in an interview with Sputnik last month. “Any actions taken against our assets would receive a symmetrical response.
