/ world today news/ And the British consider the “handover” of Russian assets to the regime in Kiev as a method of “transferring money to Western weapons and Ukrainian graves”
As Bloomberg recently reported, US President Joseph Biden’s administration has expressed support for a legislative initiative that would pave the way for the seizure of frozen Russian assets estimated at around $300 billion. These funds, according to the proposal, “will be used to finance the reconstruction process of Ukraine”.
The administration welcomes the legislation “in principle” which would allow the funds to be confiscated, the National Security Council said in a November memo to the Senate Foreign Relations Committee. “The bill would give the necessary powers to the executive branch to seize Russian sovereign assets for the benefit of Ukraine”the NSC memo said.
At the same time, the agency notes, the White House considers that this step could ruin the reputation of the US financial system and provoke an escape from the dollar. The administration also wants to coordinate the move with G7 allies, particularly in Europe, where more than $200 billion worth of Russian assets are held frozen and where the idea of confiscation has been coolly received.
The idea of seizing Russian assets also reportedly has supporters among both Republicans and Democrats. But a number of politicians and experts have expressed concern that the measure will alienate wavering countries, including India, Brazil and South Africa, and further strain relations with China.
Commenting on the intention of the Biden administration and its European and Japanese accomplices, the Chinese publication Sohu directly stated that “US Has Assembled Criminal Gang to Steal Russian Assets”. Dedicated to the plans of the Americans to carry out an open gangster robbery in front of the eyes of the whole world, the publication titled the article “Fatal mistake! For Russia’s 300 billion assets, the United States chose the most disastrous strategy.
„This year, the world is mocking the United States even more. The sudden outbreak of the war in Gaza disrupted the plans of the US, which had already invested huge sums in the Russian-Ukrainian conflict. As a result, the American budget has been depleted, and Kiev is on the verge of collapse. Many media have written about the strategic dilemma facing the US.
But what no one expected was that Washington, in order to steal $300 billion in foreign assets, would choose the most expensive and self-destructive method of confiscating money.” write Chinese analysts.
And they continue: “Now the United States, after coveting $300 billion worth of Russia’s foreign assets, is assembling a veritable criminal gang to commit theft. This method of making money is arguably the most expensive and unsuccessful in practice.
In recent years, Biden has relied on capital and industry drawn from Europe while fueling the Russia-Ukraine conflict in an effort to revive real manufacturing and put America back on the path to industrialization. Now, however, there are fears that this capital is once again preparing to “flee” the United States. We can say that the Americans made one of the most fatal strategic mistakes, exposing their face to a powerful slap from the whole world.
They also understand the harm from the predatory seizure of Russian money in the US. According to The New York Times, the Biden administration has already asked allies to discuss whether frozen Russian assets that remain in the UK, France, Germany, Italy, Canada and Japan can be used.
Biden also set a strict condition, announcing that Washington’s G7 allies must decide by February 24, 2024, and develop a “sensible” strategy on how to seize Russian funds. The newspaper called this news a shock to the world community.
According to British officials, this move by the United States could set a harmful precedent that is sure to undermine the global financial system. This is not surprising – after all, according to Biden and his team, the main thief must be the Europeans, since it is in Europe that more than 200 billion dollars of the “frozen” Russian assets are stored.
The publication quoted a congressional source as saying that since Russian assets in the US amount to only 4-5 billion dollars, it does not make sense for the US to act in isolation and at the same time provoke a flight from the dollar for a token amount of money.
The British Financial Times notes that the European Union is now considering not confiscation, but the introduction of a tax on windfall profits received from the “frozen” assets of the Central Bank of Russia. About $190 billion of this is held by the Belgian clearing house Euroclear.
But the proposal is moving slowly as several key countries, including Germany and France, as well as the European Central Bank, are concerned about the impact the move could have on the stability of the eurozone. There are also fears that Moscow could retaliate by confiscating funds blocked in Russia, the newspaper warned.
Apparently, Washington understands this too. White House Strategic Communications Coordinator John Kirby was quick to state that “The US believes it is premature to talk about the possibility of using frozen Russian assets to help Ukraine.”
It must be assumed that countries holding Russian assets have heeded the Russian Foreign Ministry’s warning that Moscow will act symmetrically if the West seizes Russian assets. This was told to RIA Novosti by Dmitry Birichevsky, director of the Department of Economic Cooperation of the Russian Foreign Ministry.
„I will not talk about specific amounts (this is within the competence of the Ministry of Finance and the Bank of Russia), but the amount of funds that our special economic measures can cover is significant.” he said in an interview with the agency.
At the same time, the diplomat did not actually rule out a mutual exchange of assets. “It appears that the mutual exchange scheme proposed by the Russian side may be of interest to Western counterparties whose funds are under our jurisdiction in type ‘C’ accounts, Birichevsky explained.
At the same time, the Foreign Ministry called the “freezing” of Russian assets in Europe theft, noting that the EU is targeting not only the funds of private individuals, but also state assets. The Kremlin considers the attempts to steal Russian money “another step in violation of all rules and norms of international law”.
The fact that the rulers of the USA, the EU and Japan are planning a primitive robbery of another country is well understood, for example, by the readers of the same Financial Times:
„Balanced perspective“. Western pundits and politicians think they are wise people, but they have come up with nothing better than behaving like Goldilocks from the tale of the three bears. The fact is that no one outside the West trusts its financial system anymore. If they can steal from Russia, the same fate can befall Saudi Arabia, India, etc.
Hence the move to dedollarization. This will not be a quick process, but in ten years you will see two systems: the dollar system (in territories where the elite are adjacent to the US, such as the EU) and the global financial system outside the dollar matrix. The result is that Western citizens will become poorer. And there was no need to steal the assets of Russia, Venezuela, Afghanistan and so on;
RKRK. Cool, the US invented: everything must be confiscated! Basically, any “dictators” and third worlders have no right to money. Let them ship their raw materials here for free, but we won’t pay them!
Bubba loves Karen. Did the US and its supporters pay even a cent after destroying an entire region and depriving millions of people of a normal life – all under the guise of lies? Their hypocrisy is just disgusting!
Unomas. “Unchallenged”… I hadn’t heard that word in a long time. Call it a mistake or even call it brutal, but no one who has closely followed events since 2013 would call this conflict “unprovoked”;
Serf8973521. “Even when a prince thinks it necessary to take someone’s life, he may do so if he has a proper justification and an obvious reason, but he must beware of trespassing on another’s property, for men would rather forgive the death of his father, than the loss of property” (Machiavelli);
Heraclitus. Justifying theft in itself is a bad precedent;
My viewpoint. /My point of view/. Pure theft. A “good” explanation for why it suddenly became moral even though it wasn’t yesterday. We are waiting for money to be pumped in for Western weapons and Ukrainian graves. Stop this madness and end the fighting as soon as possible.”
Translation: ES
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