- Sputnik International, 1920
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

G7 Got Comfortable Stealing Russian Assets After US "Diplomatic Push" – Reports

© Sputnik / Vladimir Astapkovich / Go to the mediabankRussian ruble commemorative coins made of silver and gold
Russian ruble commemorative coins made of silver and gold  - Sputnik International, 1920, 20.05.2024
After Russia launched the special military operation, Western nations froze almost half of Russia's $320 billion foreign currency reserves. The Kremlin called the move an expropriation of property and a violation of international law.
G7 countries, previously reluctant to use Russian assets to finance the Kiev regime, are "warming" to the idea after a "diplomatic push" by the US, the FT reports. Sources of the British news outlet were reluctant to say how exactly Washington changed the minds of peer politicians, but admitted that the White House played the November election card and capitalized on fears that Donald Trump could completely cut off US spending on Ukraine.
Washington is trying to push the discussion forward so that additional funds for Ukraine would become a fait accompli for the new administration.
Dollar and ruble bills  - Sputnik International, 1920, 25.01.2024
West Could Face $300Bln Boomerang in Gamble to Seize Russian Assets, Sputnik Estimates
“Even if Trump wins, the money has already been deployed”, the diplomatic source admitted.
The plan is likely to be discussed at the G7 summit in June, and this scheme, dubbed "Trump-proofing," will allow the Kiev regime to be loaned $50 billion. This sum will be backed by future profits from about $350 billion of frozen Russian assets. Canada and the United Kingdom already support this plan, the source added.
France, Germany, Italy, and Japan had previously expressed concern that such a move would set a dangerous precedent of government theft of property and cause turmoil in the global financial system.
European Central Bank Vice President Luis de Guindos admitted that this decision will undermine the euro's position as a safe currency. Numerous economists and financial analysts also warned that using frozen Russian assets to finance Ukraine will "supercharge de-dollarization" as businesses around the world will conclude that the Western economy is no longer a good option for investment.
Russian officials have repeatedly stressed that such a move would violate international law and that Moscow will do everything possible to return frozen assets.
Russian President Vladimir Putin called the asset seizure an "unseemly business" and warned that "stealing other's assets has never brought any good to anyone."
To participate in the discussion
log in or register
Заголовок открываемого материала