Source link The move allowed America to dodge its own laws against sending the money to Ukraine The US Justice Department has handed almost $500,000 in forfeited Russian funds to Estonia, where they will be used to help repair Ukraine’s power grid. The transfer was the first of its kind, and used Estonia as a […]
Source link A senior official with the fund has called for an assessment of the legal grounds before the immobilized reserves are seized Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF First Deputy Managing Director Gita Gopinath has warned in an interview with Foreign Policy magazine published on […]
Source link Russia’s response would be “extremely harsh,” Foreign Ministry spokeswoman Maria Zakharova has warned Russia would consider Western nations “thieves” and would respond with “very harsh” countermeasures should its frozen assets be confiscated, Foreign Ministry spokeswoman Maria Zakharova has warned. Her comments came after the European Council took steps for the potential seizure of […]
Source link The EU is already pursuing plans to transfer the interest accumulated on Moscow’s funds to Ukraine The US is in discussions with other G7 nations on potential ways to seize frozen Russian sovereign funds, State Department spokesperson Matthew Miller has confirmed. His comments came shortly after the European Council enacted measures that could […]
Source link The EU has unanimously backed the idea of using profits from the funds to help Ukraine The EU’s plan to seize the profits from frozen Russian assets and hand them over to Ukraine would be a gross violation of international law, the Foreign Ministry in Moscow has told RIA Novosti. Belgium-based clearing house […]
Source link The Russian energy giant’s local subsidiary is currently under a Berlin-appointed trusteeship The nationalization of Rosneft’s assets in Germany would be tantamount to confiscation, and such a step would have far-reaching consequences, Kremlin spokesman Dmitry Peskov warned on Thursday. His statement follows a media report that the German authorities are discussing nationalizing the […]
Source link Unblocking €50 billion for Ukraine has bought the bloc some time, Paolo Gentiloni has said The European Union is cautious about calls to seize Russian sovereign funds, EU Economy Commissioner Paolo Gentiloni told the Financial Times on Tuesday. The US and its allies froze an estimated $300 billion in Russian assets in February […]
Source link Major EU clearinghouse Euroclear has revealed that it accrued almost $5 billion in profit from frozen Russian assets last year. In its financial results for 2023 published on Thursday, the Belgium-based company reported that net interest earnings amounted to €5.5 billion ($5.9 billion), of which €4.4 billion “relate to interests linked to Russian […]
Source link Confiscating Moscow’s frozen central-bank reserves must be “legally watertight,” Dominic Johnson has urged Any step towards confiscating frozen Russian assets must be done in strict accordance with international law, Britain’s investment minister, Dominic Johnson, said on Tuesday in an interview with Reuters. Earlier this week, the EU Council reported that the bloc’s envoys […]
Source link The bloc had been debating directing the income generated by the reserves to Ukraine for more than a year EU member states have reached an agreement that is expected to allow Brussels to transfer the income generated by Russia’s frozen central bank reserves to Kiev, according to an X (formerly Twitter) post on […]
Source link Ukraine is “working hard” with Washington to secure American funding for the country in 2024, PM Denis Shmygal said The US assured Kiev that the Russian assets that remain frozen in the West are going to be seized and used to rebuild Ukraine after the conflict, Ukrainian Prime Minister Denis Shmygal has said. […]
Source link A Russian conglomerate will be allowed to buy out the coal-mining companies previously owned by Ukrainian oligarch Rinat Akhmetov, the Kremlin confirmed on Thursday. President Vladimir Putin approved the sale in line with the standing anti-sanctions measures. The joint stock company ‘Best Solution’ will acquire 100% of the shares of Don Anthracite and […]
Source link The European Union is “unlikely” to confiscate the Russian Central Bank funds that are currently frozen due to Ukraine-related sanctions, Reuters reported on Tuesday. There is no agreement among the members for the risky move, senior bloc officials told the agency. The US and its allies froze an estimated $300 billion of Russian […]
Source link The confiscation of Russia’s frozen assets could lead to massive financial losses on part of the US and its allies, the news agency RIA Novosti reported over the weekend. A number of Western nations, including the US, UK, France, and Germany, still have significant investments in Russia that could be lost. Total foreign […]
Source link The Biden administration sees the move as a way of making Moscow pay for damage done to Ukraine The White House supports the idea of confiscating Russian assets that have been frozen since the outbreak of the conflict in Ukraine, Bloomberg has reported, citing a US National Security Council (NSC) memo. The NSC […]