The European Council has approved a framework agreement to direct billions in revenue from frozen Russian assets towards Ukraine aid, the Financial Times reported on Oct. 27.
Western sanctions have frozen $300 billion of Russia’s Central Bank. Out of these assets, EUR 180 billion ($190 billion) is held in the world's largest securities depository, Euroclear, in Brussels.
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According to the report, some member countries, such as Germany, were "skeptical of these plans due to legal problems related to property rights." But fears were allayed when the idea of extracting “windfall” revenues was endorsed by U.S. Treasury Secretary Janet Yellen. The plans were also approved by the G7.
news.yahoo.com
If I were Russia, I would consider such an action an act of war and respond first by giving the E.U. a certain time frame in which to return Russia's wealth, and second: followed by a promise of nuclear annihilation if the wealth isn't returned within that time frame. Putin is probably more sane than I would be...
Western sanctions have frozen $300 billion of Russia’s Central Bank. Out of these assets, EUR 180 billion ($190 billion) is held in the world's largest securities depository, Euroclear, in Brussels.
....
According to the report, some member countries, such as Germany, were "skeptical of these plans due to legal problems related to property rights." But fears were allayed when the idea of extracting “windfall” revenues was endorsed by U.S. Treasury Secretary Janet Yellen. The plans were also approved by the G7.
EU approves plan to use frozen Russian assets to aid Ukraine — report
The European Council has approved a framework agreement to direct billions in revenue from frozen Russian assets towards Ukraine aid, the Financial Times reported on Oct. 27.
If I were Russia, I would consider such an action an act of war and respond first by giving the E.U. a certain time frame in which to return Russia's wealth, and second: followed by a promise of nuclear annihilation if the wealth isn't returned within that time frame. Putin is probably more sane than I would be...
