{"id":1493408,"date":"2024-10-02T06:45:00","date_gmt":"2024-10-02T10:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1493408"},"modified":"2024-10-02T06:45:00","modified_gmt":"2024-10-02T10:45:00","slug":"west-seeks-to-finalize-using-frozen-russian-funds-to-pay-for-ukraine-war","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/west-seeks-to-finalize-using-frozen-russian-funds-to-pay-for-ukraine-war\/1493408\/","title":{"rendered":"West Seeks To Finalize Using Frozen Russian Funds To Pay For Ukraine War"},"content":{"rendered":"

West Seeks To Finalize Using Frozen Russian Funds To Pay For Ukraine War<\/span><\/p>\n

\n

Authored by Kyle Anzalone via The Libertarian Institute,<\/em><\/a><\/p>\n

The President of the Group of Seven (G7) is\u00a0seeking to finalize<\/a>\u00a0a $50 billion loan<\/strong> to Ukraine that will be repaid using interest and profits frozen Russian funds<\/strong>. Using Moscow\u2019s money to pay for Kiev\u2019s war effort will be a major escalation in the economic war Washington is waging against Russia.<\/p>\n

European Commission Executive Vice President Valdis Dombrovskis explained, “The G7 presidency is now aiming for a political commitment on participation in this \u2026 loans initiative around the end of October, which would allow all G7 lenders sufficient time to operationalize loans by the end of this year<\/strong>.”<\/p>\n

Via Associated Press<\/em><\/a><\/p>\n

The scheme calls for giving Ukraine $50 billion, which will be dubbed a loan. However, rather than Kiev repaying the money, funds from frozen Russian assets in G7 nations will repay the loan. “The loan for Ukraine is to be serviced from profits generated by Russian assets<\/strong> immobilised in the West. More than two thirds of the assets, some 210 billion euros, are in the EU,” Reuters has<\/a> detailed of how it will work.<\/p>\n

The G7 includes the US, UK, France, Canada, Japan, Germany, Italy, and the European Union. The bulk of the money will come from members of the EU, $35 billion<\/strong>.\u00a0<\/p>\n

Dombrovskis reports that Canada, the UK, and Japan are on board with the proposal. Washington is withholding support over unease that the EU will unfreeze the Russian funds, leaving no clear method for the loan to be repaid.<\/p>\n

The EU is seeking to alleviate the White House\u2019s concerns by voting to extend the freezing of the Russian funds by three years.\u00a0<\/p>\n

Using Russian money to fund the Ukrainian army\u2019s killing of Russian soldiers will likely be viewed as a major provocation by Moscow<\/strong>. Throughout the conflict, the White House has waged an economic war \u2013 alongside the proxy war \u2013 against Russia in Ukraine.\u00a0<\/p>\n

Washington and its allies have instituted numerous rounds of sanctions and other economic penalties against Moscow aimed at slowing the Kremlin\u2019s war machine.<\/p>\n

However, the Russian economy has largely adapted to the sanctions, while\u00a0cutting trade with Moscow<\/a>\u00a0has harmed some European economies.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 10\/02\/2024 – 02:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/geopolitical\/west-seeks-finalize-using-frozen-russian-funds-pay-ukraine-war<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

West Seeks To Finalize Using Frozen Russian Funds To Pay For Ukraine War Authored by Kyle Anzalone via The Libertarian Institute, The President of the…<\/p>\n","protected":false},"author":0,"featured_media":1493409,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1493408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1493408"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1493409"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1493408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1493408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1493408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}