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IPFS News Link • Economy - International

G7 Closer To Giving $300BN In Seized Russian Assets To Ukraine After Orban Blocked EU Funds

•, by Tyler Durden

"G7 members and other specially affected states could seize Russian sovereign assets as a countermeasure to induce Russia to end its aggression," a US policy paper being considered by the G7 states.

The Financial Times aptly described the proposal as constituting "a radical step that would open a new chapter in the west's financial warfare against Moscow" - also as certainly Moscow would see it as brazen theft.

While neither the White House nor US Treasury has openly affirmed that this is the US stance, the FT noted US officials are actively engaging G7 countries to see it through.

"A US official said Washington was engaged in active conversations on the use of Russian sovereign assets and believed there was a short timeline to make a decision," FT details. "They suggested it could be discussed at a possible G7 leaders' meeting to coincide with the second anniversary in February of Russia's full invasion of Ukraine."

It seems war fatigue and a sudden slowdown in funding for Kiev has prompted Washington and G7 partners to "get creative". Two things happened this past week, which was certainly a "bitter week of disappointment" for Zelensky...

Republicans in Congress have blocked Biden's efforts to get an over one hundred billion foreign defense aid package pass.

Hungary's Viktor Orbán blocked an EU funding package for Ukraine worth €50bn ($54bn), which came the same day Hungary abstained from a vote on starting formal EU membership talks for Ukraine.

Orban had written on social media: "Summary of the nightshift: veto for the extra money to Ukraine." He had for weeks promised to also block the start of EU accession talks, so it seems blocking the funds was an effort to show his supporters he didn't back down (completely).

1 Comments in Response to

Comment by PureTrust
Entered on:

Why did Russia have $300 billion in locations where it could be seized by the US and NATO? Because Russia was playing ball with the US and NATO. Russia wasn't trying to fight the US and NATO. Russia was trying to peacefully trade with the US and NATO. It was the US and NATO that broke their peaceful trade with Russia by instigating the war through Ukraine, and then jumping onto the Russian $300 billion. The US and NATO have been after Russian property for years, while at the same time failing to adhere to agreements to not expand NATO in the direction of Russia. As we can see, it is backfiring on the US and NATO. And when the backfire gets big enough, it will hurt, maim, and kill Americans.