The ruble has collapsed, and refineries are standing still: How is the Russian economy surviving as the third year of the war approaches? Almost all the available Russian economic resources have already been used, and the country finds itself in a unprecedented situation. The unemployment rate has fallen to a historic low of 2.4%, and t... #GDPrussia #OilRefineryRussia #Ruble #RussianCentralBank #RussianEconomy
The Russian Central Bank is sounding the alarm over an economy inflated by military spending. On September 13, the Russian Central Bank raised the key policy rate to 19% per annum for the eighth time. This level has been achieved only once in the last 20 years – in the first weeks of the full-... #DefenseSpendingRussia #RussianCentralBank #RussianEconomy #WarinUkraine
Ukraine will use interest from Russian assets to strengthen its defense capabilities. The EC proposes freezing the Russian central bank’s assets for five years in exchange for a $50B loan. “The Ministry of Defense of Ukraine plans to use these funds to purchase the necessary resources and means of protection that will help strengthen national security”, said Deputy Defense M... #DmytroKlimenkov #EuropeanCommission #MilitaryAidforUkraine #RussianAssetsProfits #RussianCentralBank
Russia lost its case to unblock €70B in the EU, so the funds can now be used to help Ukraine. The Russian National Settlement Depository has lost its case to remove EU sanctions imposed in connection with its role in financing the war. The depository came under EU sanctions in 2022 when the bl... #Euroclear #RussianAssets #RussianAssetsArrested #RussianCentralBank
The EU is preparing indefinite sanctions to be placed on Russian assets to enable Ukraine’s $50B loan as part of the G7 initiative. EU countries are discussing options for extending the period between reviews of the sanctions on the Russian central bank’s assets to ensure the operation of the G7 plan to provide Ukraine with ... #LoanForUkraine #RussianAssetsArrested #RussianAssetsProfits #RussianCentralBank #SanctionsAgainstRussia
The EU will adjust sanctions to ensure the earnings from frozen Russian assets are not interrupted. The EU has presented member states with two options to freeze Russian Central Bank assets for extended periods. It seeks to assuage US concerns over a G7 plan to leverage the profits from these assets... #G7 #LoanForUkraine #RussianAssetsArrested #RussianAssetsProfits #RussianCentralBank #SanctionsAgainstRussia #SupportUkraine
Ukraine will receive the first funds from the frozen assets of the Russian Federation this summer. This summer, the European Council hopes to direct to Ukraine the first revenues from profits generated by the assets of the Russian Central Bank, which were blocked in Europe after the Russian full-sc... #EuropeanCouncil #LoanForUkraine #ReparationsForUkraine #RussianAssetsArrested #RussianAssetsProfits #RussianCentralBank
The G7 supports the plan to use Russian assets for Ukraine’s future security, and the World Bank is ready to manage the loan. The G7 finance ministers at a meeting in Italy supported the US’ idea to provide Ukraine with a loan secured by profits from frozen Russian assets. The $50B loan will be repaid through the profits fro... #AjayBanga #G7 #Hungary #LoansForUkraine #RussianAssets #RussianCentralBank #worldbank
The European Parliament has gained more support for confiscating Russian assets, but the G7 is inclined to use only their generated revenue. The European Parliament held a debate regarding the use of frozen assets belonging to the Russian Central Bank, where most deputies support the European Commission’s proposal to transfer the profits f... #AndriusKubilius #EuropeanParliament #ReparationsForUkraine #RussianAssetsConfiscation #RussianAssetsProfits #RussianCentralBank
Due to sanctions, Russia struggles to receive billions of dollars in export revenue. The strengthening of American sanctions and the refusal by foreign banks to pay Russian companies have deprived Moscow of billions of dollars in foreign exchange. In March, the Russian Federation earn... #RussianCentralBank #RussianEconomy #RussiaProfits #SanctionsAgainstRussia
The EU does not want to transfer €5B in income from the frozen assets of the Russian Federation to Ukraine. The EU decided not to transfer €5B to Ukraine from the proceeds received from the investment of the frozen assets of the Russian Federation in 2022-2023. This money will be in Euroclear, the body that... #DenysMalyuska #Euroclear #RussianAssetsConfiscation #RussianAssetsProfits #RussianCentralBank
Ukraine will receive the first payment from frozen Russian assets this summer. The EU has prepared a draft law, according to which Ukraine can start receiving profits from frozen Russian sovereign assets as early as July of this year. As Bloomberg writes, the draft law envisages... #EuropeanPeaceFund #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The EU is approaching a decision on the use of Russian assets. In Europe, the only politically realistic approach to using Russian money to finance Ukraine is considered to involve about 1% of the frozen funds. However, Ukraine needs about €100B a year to fight t... #Euroclear #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank #SupportUkraine
Britain is ready to lend the Russian Federation’s frozen assets to Ukraine. Britain is prepared to give Ukraine all the frozen assets of the Russian central bank that are being held in the country, on the condition that Russia will be forced to pay reparations to Ukraine afte... #DavidCameron #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank
The G7 reconfirms that Russian assets will remain frozen until the aggressor pays reparations to Ukraine. The G7 countries released a statement in which they noted: “We confirm that the sovereign assets of the Russian Federation in our jurisdictions will remain immobilized until the Russian Federati... #G7 #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank
Ukraine expects to receive $4B from Russian assets frozen in the G7 countries and the EU. According to Deputy Minister of Justice Iryna Mudra, Ukraine can receive $15-18B over the course of four years, including about $4B this year. “There is moderate optimism that the EU Council wil... #Euroclear #IrynaMudra #ReparationsForUkraine #RussianAssets #RussianAssetsProfits #RussianCentralBank
The EU will reserve profits from the Russian Federation’s frozen assets for Ukraine’s recovery. The Council of the EU adopted decisions and regulatory rules defining the obligations of EU Central Securities Depositories (CSDs) that are holding frozen assets and reserves belonging to the Central ... #RussianAssetsArrested #RussianAssetsProfits #RussianCentralBank #UkraineFund #UkraineReconstruction
The EU has proposed a new way to finance aid to Ukraine. EU Commissioner for Environmental Affairs Virginijus Sinkevičius suggests that the EU should additionally tax Western companies doing business in Russia to help Ukraine. He said that it is essential t... #EUfinancialAid #RussianAssets #RussianCentralBank #UkraineFacility #VirginijusSinkevičius #WesternCompaniesInRussia
Washington is considering alternative methods to buy arms for Ukraine. The issue of aid to Ukraine is pending in the US Senate. Even if military assistance can be advanced, there are many reasons to doubt that the money will come, given the deep opposition from Republica... #RussianAssetsConfiscation #RussianCentralBank #SupportUkraine #USsenate #WarinUkraine #WeaponsforUkraine
The Kremlin threatens the West with years of trials and cyberattacks for trying to use its assets for Ukraine. Russia is threatening to initiate lengthy legal disputes in international courts if the G7 countries and the EU decide to use the frozen assets of the Russian Central Bank to restore Ukraine, said the... #DmytriyPeskov #Euroclear #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
Ukraine’s allies plan to direct frozen Russian assets to help Ukraine without their immediate confiscation. According to a plan proposed by Belgium, the allies could issue debt obligations to finance Ukraine’s needs, using the assets of the Russian Federation as collateral to guarantee repayment of the debt... #Euroclear #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The EU supports the transfer of profits from frozen Russian assets to Ukraine, but there is a lack of economic power for confiscation. On January 29, the ambassadors of the EU gave their support to a proposal to use the profits from the frozen assets of the Russian Federation to help Ukraine. The EU must approve the first step, separ... #EUCouncil #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The US Senate support the confiscation of Russian assets in favor of Ukraine. The US Senate Foreign Affairs Committee approved a bill that would help Washington confiscate Russian assets and hand them over to Ukraine in compensation for the devastation caused by the Russian war... #BenCardin #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank #USsenate
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
Belgium, which presides over the EU Council, insists on a clear mechanism for confiscating Russian assets. “Belgium is not against the confiscation of the €280B in frozen assets belonging to the Russian Central Bank, but there must be a clear mechanism for this. For example, they can be used as colla... #AlexanderDeCroo #Euroclear #RussianAssetsArrested #RussianCentralBank
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 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
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 EU will present a plan for the use of frozen Russian assets, but a few issues still remain. On December 12, the EC plans to publish a plan to use the profits from more than €200B in frozen Russian Central Bank assets. Several issues still need to be resolved, however, and the EU proposal wil... #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The EU is preparing the 12th package of sanctions against Russia. In October, EU member states will start discussions on a new package of sanctions against Russia, including a ban on diamond trade, writes Bloomberg. The publication’s sources suggest that the E... #RussianAssets #RussianCentralBank #Russiandiamonds #SanctionsAgainstRussia #UkraineReconstruction
The EU is arguing over the mechanism of using the Russian Federation’s frozen assets for Ukraine’s reconstruction of Ukraine. Differences of opinion arose between the European Commission and the European Central Bank regarding the use of profits from the investment of more than €200B in frozen assets belonging to the Russian... #ECB #EuropeanCommission #RussianAssets #RussianCentralBank #UkraineRecovery
The EU will tax profits on frozen Russian Central Bank assets. EU leaders are backing plans that would impose a windfall tax on profits generated by more than €200B in Russian Central Bank assets to aid Ukraine’s reconstruction and will seek political support fro... #RussianAssetsConfiscation #RussianCentralBank #UkraineReconstruction #UrsulavonderLeyen
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 EU is still working out a mechanism for using Russian assets for Ukraine. As a representative of the European Commission, Christian Wiegand, explained there are two different elements: private assets and state assets. The amount of frozen private assets is at a €24.1B equiv... #ChristianWiegand #RussianAssets #RussianAssetsConfiscation #RussianCentralBank #UkraineRecovery
The European Commission has legal grounds to use the assets of the Russian Federation for the reconstruction of Ukraine. According to spokesperson Christian Wiegand, the European Commission has confirmed that it has developed legally acceptable options for the use of Russian assets, both private and state, for Ukraine’s... #ChristianWiegand #RussianAssets #RussianCentralBank #SanctionsAgainstRussia #UkraineReconstruction
The EU keeps looking for legal avenues to confiscate frozen Russian assets. A special working group should find out more precisely where Russian state assets are located and their total value. About $300B of assets from the Russian central bank are frozen in the G7 countries.... #RussianAssets #RussianCentralBank
The EU is working on the transfer of frozen assets of the Russian Federation. The European Union is analyzing the possibility of using part of the frozen Russian assets to restore Ukraine. As Bloomberg notes, the discussion is in an early stage, and legal experts have been task... #RussianAssetsConfiscation #RussianCentralBank
Germany is exploring options to confiscate the Central Bank of Russia’s assets for the reconstruction of Ukraine. German Finance Minister Christian Lindner said he was open to the idea of seizing the Russian Central Bank’s assets to finance Ukraine’s reconstruction, reported German newspaper Handelsblatt... #ChristianLindner #RussianAssets #RussianCentralBank
