Western analysts consider the confiscation of Russian assets a short-sighted decision and offer an alternative option. As The Hill explains, confiscation makes little sense because, First, confiscation of assets reverts government bonds to the issuers, which would automatically void the West’s obligation to redeem sov... #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank #RussianTrustFund #UkraineRecovery
The EU can allocate €6-€8B a year to Ukraine from revenues sourced from frozen Russian assets. The Ukrainian ambassador to the EU, Vsevolod Chentsov, said that the EU has about €200B out of the total €300B of frozen Russian assets. It is difficult to transfer the assets outright to Ukraine, owi... #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank #VsevolodChentsov
Ukraine will need $10-$15B aid annually after the war, said Deputy Head of the Office of the President Rostyslav Shurma at the Ukrainian House in Davos. However, according to Shurma, this need can be satisfied if Ukraine receives frozen Russian assets cur... #DmytroKuleba #Euroclear #ReparationsForUkraine #RostyslavShurma #RussianAssetsConfiscation #UkraineReconstruction #UkraineRecovery
Ukraine can attract $300B through reparation bonds as a backup plan. Ukraine can raise about $300B by selling bonds secured by future lawsuits against Russia for compensation for the damage it has caused during military operations. “Kyiv will be able to receive this am... #Bonds #DaleepSingh #ReparationsForUkraine #RussianAssets
The IMF is assessing the impact of the confiscation of Russian assets on the international financial system, and Russia is preparing its case for the courts. The top manager of the IMF, Julia Kozak, noted that the fund believes that decisions on the confiscation of Russian assets should be made by the countries where the frozen funds of the Russian Federat... #imf #JuliaKozak #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The White House approves confiscating $300B in Russian assets to restore Ukraine. US President Joe Biden’s administration supports a bill that would allow it to confiscate about $300B in frozen Russian assets for Ukraine’s restoration. Biden supports the move amid congression... #JoeBiden #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #UkraineRecovery #WhiteHouse
The EU is studying the possibility of transferring €15B in revenues from frozen Russian assets. As the FT points out, Belgium’s new responsibilities as the country currently holding the EU presidency may complicate the issue of using blocked Russian assets to help Ukraine. At the same time... #ReparationsForUkraine #RussianAssets #RussianAssetsArrested #RussianCentralBank
The frozen assets belonging to the Russian Federation will cover 80% of Ukraine’s reconstruction needs. Minister of Foreign Affairs Dmytro Kuleba said that Ukraine will definitely receive money for post-war reconstruction from frozen Russian Federation assets. The minister hopes these funds will arrive ... #DmytroKuleba #EnvironmentalDamage #ReparationsForUkraine #RussianAssetsConfiscation #UkraineReconstruction #UkraineWarDamages
More than €4B in Russian assets have been seized in Germany. As of the beginning of December 2023, the Ministry of Finance of Germany reported that due to Russia’s war against Ukraine, Germany has seized about €4.1B in Russian assets. It is noted that the... #JPmorgan #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The US offers to transfer frozen Russian assets to Ukraine “in advance,” as part of reparations. According to the FT, although Washington has not publicly supported confiscating frozen assets, politicians have agreed to it privately. It is assumed that the seized assets can be transferred to Ukra... #JPmorgan #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation
The EU will consider a plan to use revenues from Russia’s frozen assets; Britain supports using these assets to help Ukraine. The EC must approve a legal proposal regarding the use of income from Russian assets frozen under sanctions in connection with the Russian Federation’s full-scale invasion. The decision is expected to... #DavidCameron #ReparationsForUkraine #RussianAssetsConfiscation #UkraineRecovery
The US Congress approves the transfer of the Russian Federation’s frozen assets to Ukraine. According to Republican congressman Michael McCall, who introduced the relevant document for consideration, this bill requires the Biden administration to hand the aggressor’s frozen sovereign assets ... #MichaelMcCall #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #UkraineRecovery
Canada will create an international precedent to confiscate Russian sovereign assets. In the upper house of the Canadian Parliament, the procedure for considering the draft law on seizing sovereign assets belonging to offending states, including Russia, has begun. “The proposed d... #RatnaOmidvar #ReparationsForUkraine #RussianAssets #RussianAssetsArrested
The G7 countries have frozen $280B in Russian assets, and Estonia and Britain are preparing to use them. In a joint statement, the G7’s financial bloc pledged to freeze Russia’s assets until it compensates for the losses it’s caused to Ukraine through the war. A working group assigned to quantify f... #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #UkraineReconstruction #WarinUkraine
The EU will partially finance the International Register of Damages of Ukraine in The Hague. The EU will cover some costs of establishing the register, ordering premises for this institution, and developing a corresponding digital platform, European Commissioner for Justice Didier Reynders sa... #DamagesRegisterUkraine #DidierReynders #HagueCort #ReparationsForUkraine #WarinUkraine
Germany opposes the plan to transfer profits from frozen Russian assets to Ukraine. Germany has spoken out against the European Commission’s plan to give Ukraine profits from frozen Russian assets, saying the hasty move could cause legal or financial risks. According to the FT,... #MarcoBuschmann #ReparationsForUkraine #RussianAssets #RussianCentralBank #UkraineReconstruction
The US Congress is preparing to confiscate Russian assets to assist Ukraine, and Estonia is the first in the EU to develop a legal confiscation mechanism. The corresponding draft act has been introduced by a bipartisan group of US senators, which primarily concerns the assets of the Central Bank of the Russian Federation. The document is entitled the Re... #ReconstructionUkraine #ReparationsForUkraine #REPOgroup #RussianAssets #RussianAssetsConfiscation
Ukraine’s Register of Losses from Russian Aggression will begin operating in August. As the Ministry of Justice explained, the agreement signed in Reykjavík imposes certain obligations on the signatory countries. Currently, work is underway to create management bodies consisting of a ... #CompensationForUkraine #ReparationsForUkraine #ReykjavíkSummit #UkraineWarDamages #WarinUkraine
The President’s office has announced a plan for the receipt of $100B in seized Russian Federation assets. Ukrainian authorities seek to receive about $100B over five to seven years from the sale of Russian sovereign assets seized worldwide, said chief consultant Oleg Havrysh. Recent estimates of Ukraine&#... #OlegHavrysh #ReparationsForUkraine #RussianAssets
Zelenskyy’s office believes the economy will recover two years after the war’s end. A return to pre-war levels is anticipated, noted presidential adviser on economic issues, Oleg Ustenko. According to him, Ukraine’s direct losses from Russian aggression are estimated at $750B and ov... #OlegUstenko #ReparationsForUkraine #UkraineEconomy
The REPO group has frozen $58B in Russian assets, but asset accumulation has slowed. The multilateral Task Force on Prosecution of Russian Elites, Proxies, and Oligarchs (REPO) has blocked or frozen $58B in Russian assets that are restricted in connection with sanctions issued followi... #ReparationsForUkraine #REPOgroup #RussianAssetsArrested
Ukraine and its partners are working on an international compensatory mechanism for reparations. It should be based on an international agreement, with compensation paid utilizing sanctioned Russian assets, said PM Denys Shmyhal during the United for Justice conference in Lviv. According to him, ... #DenysShmyhal #ReparationsForUkraine #WarDamage #WarinUkraine
The Hague will create a register of Ukraine’s losses from Russian aggression. The Government of the Netherlands has agreed to Ukraine’s proposal to create a new international organization in The Hague – the Register of Damages Caused by Russian Aggression to Ukraine... #HagueCort #ReparationsForUkraine #UkraineWarDamages
The EU Commission is working on directing Russian assets to restore Ukraine. The European Commission proposes the creation of a special court to prosecute Russian crimes in Ukraine and determine the conditions for using frozen Russian assets for Ukraine’s benefit, Ursula von d... #ReparationsForUkraine #RussianAssetsArrested #UkraineRecovery #UrsulavonderLeyen
Following the UN resolution on reparations, Ukraine will propose an international agreement. Ukrainian authorities welcomed the UN General Assembly’s resolution on reparations from Russia and noted its importance, but also that it is only the first step. “From the liberation of Kherson to th... #IrynaMudra #ReparationsForUkraine #Zelenskyy
The UN General Assembly has adopted a resolution on reparations to Ukraine from Russia. The UN General Assembly, by a majority of votes, adopted the ”Providing legal remedies and reparations in connection with aggression against Ukraine” resolution, prepared by Ukraine with co-authorshi... #ReparationsForUkraine #UNGeneralAssembly #WarinUkraine
The UN General Assembly will address reparations for Ukraine. An extraordinary special session of the UN General Assembly on November 14 will consider a draft resolution on the creation of a mechanism to compensate Ukraine for damages caused by the Russian war, ... #PaulinaKubiak #ReparationsForUkraine #UNGeneralAssembly #WarinUkraine
