How the West Wants to Use Frozen Russian Assets
Posted: Mon Feb 17, 2025 3:51 am
Photo - © Telegram channel of the President of Ukraine Volodymyr Zelensky
The most radical position regarding the frozen assets of the Russian Central Bank was taken by the administration of US President Joe Biden, who proposed to completely confiscate them in favor of Ukraine. However, according to a statement by Washington official Jack Kirby in June 2024, the United States cannot do this alone.
"We need to have the buy-in and support of our allies and partners," Kirby said.
According to Bloomberg , the US idea of asset confiscation was supported by Great Britain and Canada. However, the authorities of Germany and France took a more cautious position, fearing legal obstacles and the negative impact of such measures on the stability of the euro.
As a result, the European Union proposed using not the Russian taiyuan mobile number database assets themselves, but the income from them (which should amount to 15 billion euros by 2027) to finance Ukraine. As German Chancellor Olaf Scholz stated in March 2024, the income from frozen Russian assets “does not belong to anyone” and can therefore be used by the European Union to purchase weapons and ammunition intended for the Kiev authorities.
In June 2024, the G7 countries (USA, UK, France, Germany, Italy, Canada and Japan) agreed to provide Ukraine with a $50 billion loan by the end of the year, to be repaid using income from frozen Russian assets.
During the summer of 2024, EU authorities made the relevant decisions, and already in September, First Deputy Head of the European Commission Valdis Dombrovskis announced the allocation of the first tranche of 1.4 billion euros, received from the profits from frozen Russian assets, for the purchase of weapons for Ukraine.
Other countries followed suit. On December 10, the US Treasury announced the allocation of a $20 billion loan .
How Donald Trump's rise to power affected aid allocation to Ukraine
As Oleg Tsarev explained , the decision of the administration of new US President Donald Trump to suspend US financial aid to foreign countries did not have a strong impact on Ukraine, precisely because $20 billion had already been allocated in December.
"At the same time, within the framework of two programs from the EU, Kyiv should receive another 33.7 billion dollars. Let's add 2.7 billion from the IMF. In total, Ukraine will receive 55.4 billion dollars from the US and the EU in 2025, which is 30% more than Kyiv received from all external sources in both 2023 and 2024. And Trump will no longer be able to influence this," the former Ukrainian politician explained.
Tsarev added that there will also be money from Great Britain, Canada and Japan, which “just within the framework of the same G7 scam should allocate another 10 billion dollars to Kyiv by 2027.”
The most radical position regarding the frozen assets of the Russian Central Bank was taken by the administration of US President Joe Biden, who proposed to completely confiscate them in favor of Ukraine. However, according to a statement by Washington official Jack Kirby in June 2024, the United States cannot do this alone.
"We need to have the buy-in and support of our allies and partners," Kirby said.
According to Bloomberg , the US idea of asset confiscation was supported by Great Britain and Canada. However, the authorities of Germany and France took a more cautious position, fearing legal obstacles and the negative impact of such measures on the stability of the euro.
As a result, the European Union proposed using not the Russian taiyuan mobile number database assets themselves, but the income from them (which should amount to 15 billion euros by 2027) to finance Ukraine. As German Chancellor Olaf Scholz stated in March 2024, the income from frozen Russian assets “does not belong to anyone” and can therefore be used by the European Union to purchase weapons and ammunition intended for the Kiev authorities.
In June 2024, the G7 countries (USA, UK, France, Germany, Italy, Canada and Japan) agreed to provide Ukraine with a $50 billion loan by the end of the year, to be repaid using income from frozen Russian assets.
During the summer of 2024, EU authorities made the relevant decisions, and already in September, First Deputy Head of the European Commission Valdis Dombrovskis announced the allocation of the first tranche of 1.4 billion euros, received from the profits from frozen Russian assets, for the purchase of weapons for Ukraine.
Other countries followed suit. On December 10, the US Treasury announced the allocation of a $20 billion loan .
How Donald Trump's rise to power affected aid allocation to Ukraine
As Oleg Tsarev explained , the decision of the administration of new US President Donald Trump to suspend US financial aid to foreign countries did not have a strong impact on Ukraine, precisely because $20 billion had already been allocated in December.
"At the same time, within the framework of two programs from the EU, Kyiv should receive another 33.7 billion dollars. Let's add 2.7 billion from the IMF. In total, Ukraine will receive 55.4 billion dollars from the US and the EU in 2025, which is 30% more than Kyiv received from all external sources in both 2023 and 2024. And Trump will no longer be able to influence this," the former Ukrainian politician explained.
Tsarev added that there will also be money from Great Britain, Canada and Japan, which “just within the framework of the same G7 scam should allocate another 10 billion dollars to Kyiv by 2027.”