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Raid Russia’s ‘huge pot of gold’? Europe grapples over confiscating frozen assets to pay for rebuilding Ukraine
MSN ^ | 10-25 | Christiaan Hetzner

Posted on 10/25/2022 2:17:16 PM PDT by dennisw

Can Brussels raid the tens of billions of euros in Russian assets frozen by the European Union to pay for Ukraine’s recovery?

This thorny legal question is currently under examination by the EU Commission as the cash-strapped bloc looks for potentially €18 billion ($18 billion) next year to keep Ukraine afloat as it fends off Moscow’s invasion.

Ursula von der Leyen, the EU Commission's president, told reporters on Tuesday in Berlin that she had set up a task force to both map what assets exist as well as the preconditions that must be met to seize them.

“The will is there, but legally it is not trivial. There is a lot of work still in it to reach that goal,” she said during a press briefing on the sidelines of an international conference of experts for the reconstruction of Ukraine.

“Always to keep in mind we insist on the rule of law, and therefore we abide by the rule of law, and therefore this process has to be legally sound.”

Importantly, it's unclear whether this may eventually include the wealth of the Russian state or just illicit funds from Russian oligarchs, which is potentially easier to seize if illicitly gained.

Ukraine believes there is anywhere between $300 billion to $500 billion in Russian assets for the taking, which would go far in helping it rebuild, Ukraine Prime Minister Denys Shmyhal said on Tuesday. He said critical economic infrastructure equivalent to 45% of its annual output has been destroyed since the war started and it expects its budget deficit next year to therefor amount to €38 billion.

“We must make sure the offender pays,” he said. “Too many times over the course of history we saw that the aggressors avoided the consequences.”

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events; Russia; United Kingdom
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1 posted on 10/25/2022 2:17:16 PM PDT by dennisw
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To: dennisw

The Europeeing kleptocrats run up the Jolly Roger.


2 posted on 10/25/2022 2:19:00 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: dennisw
Be a real shame if Russia lost all that. Just a damn shame.

Heh.

3 posted on 10/25/2022 2:19:05 PM PDT by Bruce Campbells Chin
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To: dennisw

If they’re looking for a way to ratchet up and expand the war, sure.


4 posted on 10/25/2022 2:19:12 PM PDT by CatOwner (Don't expect anyone, even conservatives, to have your back when the SHTF in 2021 and beyond.)
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To: dennisw

Wait’ll the dirty RuZZians take it out in trade, boykas.


5 posted on 10/25/2022 2:20:14 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: dennisw

Get the oligarch yachts first and auction them off to the Arabians. With high oil prices they are very flush these days. Tie up the mega yachts in Dubai for inspection. Then hold the auctions.

My bid for a prime yacht starts at $100,000,000. But the yacht must include the yachting girls


6 posted on 10/25/2022 2:20:55 PM PDT by dennisw (Never attribute to stupidity, what can be attributed to malice)
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To: dennisw

Escalating economic warfare might — just might — have unintended consequences.

Look: Russia does have oil. And Russia does have food. And Russia’s population is not huge. These are all good things for Russia. Pushing the world into a global economic crisis will hurt millions of people. And probably very, very few of those people will speak Russian.


7 posted on 10/25/2022 2:21:04 PM PDT by ClearCase_guy (We are already in a revolutionary period, and the Rule of Law means nothing. )
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To: dennisw

Take Russia’s assets and give them (less joe’s 10%) to the Ukranian leadership .

Once they do that, Russia can consider Ukraine as being paid for.


8 posted on 10/25/2022 2:23:06 PM PDT by farmguy
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To: dennisw

So the Ukrainian plutcrats are not expected to tap their accounts to help with the home country?
This would be pure theft. If Ukraine wants Russian they can negotiate for reparations. Any individual or country that might be in the potential sights of the EU and WEF get your money out now.


9 posted on 10/25/2022 2:23:45 PM PDT by C19fan
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To: dennisw
Raid Russia’s ‘huge pot of gold’? Europe grapples over confiscating frozen assets...

Piracy.

10 posted on 10/25/2022 2:23:52 PM PDT by Navy Patriot (Celebrate Decivilization)
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To: kiryandil

“The Europeeing kleptocrats run up the Jolly Roger.”

Mere commentary compared to klepto Putin, who is worth 200 million via skimming Rus energy sales.

Then invaded Ukraine klepto style, to steal its Black Sea oil and gas. And Ukie farmlands that have black soil that is 4 meters deep.


11 posted on 10/25/2022 2:24:51 PM PDT by dennisw (Never attribute to stupidity, what can be attributed to malice)
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To: dennisw

Back on the days when nations had integrity, the British did not touch one pence of Americans who had assets and money overthrew; including George Washington. They understood if they went down that road, no sane person would trust them again.


12 posted on 10/25/2022 2:26:14 PM PDT by C19fan
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To: Navy Patriot
You know the traditional punishment for piracy?

It'll would be swell to see Ursula and her Euro kleptocrat pals decorating yardarms in Sevastopol.     

13 posted on 10/25/2022 2:27:09 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: ClearCase_guy
Escalating economic warfare might — just might — have unintended consequences.

What?? You're not on the Get Putin War Wagon? What's he gonna do over his stolen gold/assets - nuke the first few countries that tries it? Is that gold or getting Putin worth risking that? No, we have to go down the path our genius Congress has led us down and spend billions more on this righteous war (hold up Ukranian picture). So, some more Ukranians get killed, Germans freeze in the winter and world peace is in our rearview mirror, it's full steam ahead.

14 posted on 10/25/2022 2:27:48 PM PDT by BipolarBob (I was born into this world with nothing . . and I still have most of it .)
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To: Navy Patriot

“Piracy.”

The real piracy is your Putin invading Ukraine, to steal its farmlands and oil and gas.

Russians= A degenerate nation of Kleptos. Degenerates? Check out their ultra-high abortion rates. Rus are world leaders.


15 posted on 10/25/2022 2:28:36 PM PDT by dennisw (Never attribute to stupidity, what can be attributed to malice)
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To: ClearCase_guy

“And Russia’s population is not huge. These are all good things for Russia.”

Yeah, that third one might be a negative when you are stuck fighting a trench war that your President won’t give up on.


16 posted on 10/25/2022 2:29:49 PM PDT by Boogieman
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To: dennisw; C19fan
Once they steal those assets, as C19fan said - no one will trust them any longer.

There will be a great sucking sound as assets leave the reach of their "international bank and piracy association".

17 posted on 10/25/2022 2:30:24 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: dennisw

18 posted on 10/25/2022 2:31:20 PM PDT by Timber Rattler ("To hold a pen is to be at war." --Voltaire)
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To: dennisw

Stealing is not a “thorny legal question.”


19 posted on 10/25/2022 2:31:26 PM PDT by TonyinLA ( I don't have sufficient information to make an informed opinion said no lefty ever.)
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To: dennisw

It’s called THEFT. But, since we under Biden are the new evil empire, no one should be surprised.


20 posted on 10/25/2022 2:37:31 PM PDT by Kazan
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