https://sputnikglobe.com/20240404/seizing-russian-assets-cannot-undermine-global-monetary-system---imf-1117743757.html
Seizing Russian Assets Cannot Undermine Global Monetary System - IMF
Seizing Russian Assets Cannot Undermine Global Monetary System - IMF
Sputnik International
Western plans to confiscate Russia’s sovereign assets should have sufficient legal grounds and should not cause the destruction of the global monetary system, International Monetary Fund (IMF) spokesperson Julie Kozack said on Thursday.
2024-04-04T18:47+0000
2024-04-04T18:47+0000
2024-04-04T18:47+0000
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Kozack emphasized that any decisions on potential confiscation of Russian assets should be taken by the authorities of relevant countries and jurisdictions concerned.Moscow has maintained that such an attempt goes against international law. The Russian Foreign Ministry has dismissed the freezing of Russian assets as theft.Foreign Ministry spokeswoman Maria Zakharova said last week that the EU plan to seize Russian central bank assets was an "escalation of economic aggression" and a trade war, and warned that Russia would respond in a correspondingly harsh manner.She said that any attempt to confiscate Russian assets would be a gross violation of the West’s own law, international rules and bilateral obligations.Last year, Russian President Vladimir Putin dubbed the West’s asset seizure as “unseemly business,” and stressed that “stealing other people’s assets has never brought anyone good”.IMF Does Not Plan to Consider Restructuring Ukraine's DebtShe also noted that the IMF has no plans to consider the possibility of restructuring Ukraine's debt to the organization.Kozack pointed out that the IMF regularly analyzes Ukraine’s debt structure under its financing program."Ukraine's debt was deemed to be sustainable on a forward-looking basis," she said.Ukraine's Economic Outlook Remains Extremely UncertainDue to the ongoing conflict and delays in external financing, the economic outlook for Ukraine remains unclear.“Risks related to the ongoing war and delays in external financing remain exceptionally high. Timely and predictable financing is critical to sustaining hard-earned economic gains,” Kozack said.IMF to Discuss Ukraine Budget Support During Spring MeetingsThe IMF will hold a ministerial-level discussion on budget support for Ukraine during its upcoming spring meetings in Washington.
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what are russian frozen assets, how can you take russian frozen assets, what’s the deal with russian assets, is seizing russian assets legal, are there implications for taking russian assets, russian assets transferred to ukraine, russian assets transferred to kiev
Seizing Russian Assets Cannot Undermine Global Monetary System - IMF
Western plans to confiscate Russia’s sovereign assets should have sufficient legal grounds and should not cause the destruction of the global monetary system, International Monetary Fund (IMF) spokesperson Julie Kozack said on Thursday.
Kozack emphasized that any decisions on potential confiscation of Russian assets should be taken by the authorities of relevant countries and jurisdictions concerned.
Following the start of Russia's special military operation, the US-led West slapped widespread sanctions on Moscow, including freezing Russian assets worth approximately 300 billion euros ($329 billion). The bulk of this sum, approximately 200 billion euros ($221 billion), is being held in the European Union, predominantly in accounts at Euroclear, a European central securities depository.
Moscow has maintained that such an attempt
goes against international law. The Russian Foreign Ministry has dismissed the freezing of Russian assets as theft.
Foreign Ministry spokeswoman Maria Zakharova said last week that the EU plan to seize Russian central bank assets was an "
escalation of economic aggression" and a trade war, and warned that
Russia would respond in a correspondingly harsh manner.
She said that any attempt to confiscate Russian assets would be a
gross violation of the West’s own law, international rules and bilateral obligations.
Last year, Russian President Vladimir Putin dubbed the
West’s asset seizure as “
unseemly business,” and stressed that “
stealing other people’s assets has never brought anyone good”.
IMF Does Not Plan to Consider Restructuring Ukraine's Debt
She also noted that the IMF has no plans to consider the possibility of
restructuring Ukraine's debt to the organization.
"Importantly, the perimeter of debt restructuring encompasses official bilateral debt and external commercial debt," Kozack told reporters. "It does not include multilateral debts, including, of course, those of the IMF."
Kozack pointed out that the
IMF regularly analyzes Ukraine’s debt structure under its financing program.
"Ukraine's debt was deemed to be sustainable on a forward-looking basis," she said.
Ukraine's Economic Outlook Remains Extremely Uncertain
Due to the
ongoing conflict and delays in external financing, the economic outlook for Ukraine remains unclear.
“Risks related to the ongoing war and delays in external financing remain exceptionally high. Timely and predictable financing is critical to sustaining hard-earned economic gains,” Kozack said.
IMF to Discuss Ukraine Budget Support During Spring Meetings
The IMF will hold a ministerial-level discussion on budget support for Ukraine during its upcoming spring meetings in Washington.
"We do expect discussions during the Spring Meetings to discuss the situation facing Ukraine and the criticality of timely disbursements of budget support for Ukraine. We expect these discussions to take place during a ministerial round-table," Kozack added.
