Source link The West should borrow money against decades’ worth of Russian profits and give it to Ukraine, a senior official has reportedly urged The US wants to use future profits from seized Russian assets to raise debt on behalf of Ukraine, a senior White House official has said, according to the Financial Times. European […]
Source link Any decisions on the funds should be backed with “sufficient legal support” to avert future risks, according to a spokesperson Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF spokesperson Julie Kozack said at a regular briefing on Thursday. The EU and other G7 nations have blocked […]
Source link The divestment is reportedly expected to boost the balance sheet of the crisis-hit aerospace multinational Boeing might sell at least two of its defense unit businesses to improve its finances amid mounting safety concerns, Bloomberg reported on Tuesday, citing unnamed sources familiar with the discussions. The world’s second largest aircraft manufacturer by market […]
Source link The German chancellor has clarified that profits obtained from Moscow’s funds held in the EU will be used to arm Kiev German Chancellor Olaf Scholz has said that interest accrued from Russian assets frozen in the EU will be used to purchase weapons for Ukraine. Soon after Russia launched its military operation against […]
Source link A first tranche of over $3 billion could be disbursed in July, the outlet has learned The European Commission is pressing ahead with its plan to give Kiev up to €3 billion ($3.2 billion) from profits generated by frozen Russian assets amid waning financial support from the US, the Financial Times reported on […]
Source link The potential confiscation of funds would violate international law and ultimately weaken Europe, the French president has warned French President Emmanuel Macron has warned against the expropriation of frozen Russian assets, claiming that such a move would infringe upon international law and weaken Europe. The US and UK have been pushing for action […]
Source link The funds belonging to Moscow’s central bank have accrued nearly €4.4 billion in interest over the past year The EU is discussing the option of using profits generated by frozen Russian assets for not only reconstruction in Ukraine, but also for military support, the bloc’s foreign policy chief Josep Borrell has said. EU […]
Source link Western allies are looking for “viable” options to expropriate the funds, US Treasury Secretary Yellen has said The US and its allies will keep seeking a “firm” legal rationale to underpin plans to confiscate frozen Russian assets, US Treasury Secretary Janet Yellen told Reuters on Thursday. In an interview held shortly after a […]
Source link EU leaders are reluctant to seize the frozen billions, fearing retaliation and damage to the euro President Joe Biden is pushing his fellow Group of Seven (G7) leaders to make progress on a plan to use frozen Russian assets to fund Kiev by the time they meet in June, Bloomberg reported on Thursday, […]
Source link France and Germany have warned that outright confiscation would reflect badly on the West’s financial system A rift is growing between Western allies over confiscating frozen Russian assets to help Ukraine as they continue to argue over legal ways to use the immobilized funds, Bloomberg reported on Wednesday. The West has frozen roughly […]
Source link Sadiq Khan urged the UK government to channel proceeds from confiscations toward funding accommodation for Ukrainian refugees The UK government ought to seize property owned by Russian ‘oligarchs’ in the country and use the money to fund housing for Ukrainian refugees, London Mayor Sadiq Khan has argued. The official estimated that the sale […]
Source link Ukraine’s backers have been mulling ways to confiscate the frozen funds in order to aid Kiev Moscow will respond in kind if the West goes through with threats to confiscate Russian assets blocked abroad, Finance Minister Anton Siluanov warned in an interview with RIA Novosti published on Monday. He noted that Western states […]
Source link Many European countries have been reluctant to tap the reserves themselves, opting instead for the interest earned on them Ukraine’s Western backers should step up efforts to confiscate Russian assets frozen abroad in order to aid Kiev, British Prime Minister Rishi Sunak has said. In an article for the Sunday Times marking the […]
Source link Ten lawyers have argued that the seizure would be legitimate due to the Ukraine conflict A group of self-styled “experienced public international lawyers and practitioners” have put together a case for confiscating Russian sovereign funds currently frozen by the US and its allies, saying it would be the appropriate response to Moscow’s “unlawful […]
Source link Legislation allowing such a move should be called “Navalny Laws,” Norbert Rottgen said Russia’s assets that remain frozen in the West should be confiscated in response to the death of opposition activist and anti-corruption campaigner Alexey Navalny, German parliament member Norbert Rottgen has said. This money should be used to provide more arms […]