From China to Saudi Arabia, countries want the EU to reject pressure to confiscate over €200 billion of Russian assets.
Countries sympathetic to Russia are demanding the EU drop any notion it might have about a wholesale confiscation of Moscow’s state assets.
Representatives of China, Saudi Arabia and Indonesia are privately pushing the EU to continue resisting pressure from the U.S. and U.K. to seize more than €200 billion of Russian state assets it immobilized after February 2022’s invasion of Ukraine to help Kyiv’s reconstruction efforts, four officials with knowledge of the proceedings told POLITICO.
“These countries are very skeptical about the idea,” said one of the officials, granted anonymity because the talks are so sensitive. The concern is, “this would create a precedent” ― in other words, these countries would fear they could be next to lose out.
If China and the Saudis are against it, it’s probably a good idea.
Amazing how this is not downvoted to hell. I guess this is an echo chamber after all
Duder here defending a literal islamofascist monarchy that kills gay people and journalists, and an authoritarian one party state that uses Han ethnonationalism to replace native populations they conquered and puts minorities into concentration camps Edit: you can’t even spell echo right lol
you can’t even spell echo right lol
It’s right in Spanish, sorry I know 3 languages only
And apparently you’re fluent in fascism in all three.
What lol
Why do you think that?
They should beg Putin to leave the sovereign nation of Ukraine alone instead.
Then they will get their wish.
Hmmmm why are they afraid that they could be next? Is it because their countries are run by dictators that have committed genocide?
More likely they fear it’s going to be a problem for the genocide they want to commit in the future
The West is perfectly fine supporting genocide so long as you only do it in your own country or in a country The West is not interested in.
I don’t think it’s genocides we have a problem with. We’ve committed and supported our own atrocities.
They’re worried about setting a precedent? War reparations are pretty fucking precedented. The Treaty of Westphalia had indemnity payments involved.
Also, I got curious and checked: the oldest peace treaty, the Egyptian–Hittite peace treaty of 1259 BC didn’t have any indemnity payments. It would have been funny if reparations were that precedented but sadly, they just basically agreed to stop fighting over Syria and made a mutual defense pact.
They should give it to me.
New national lotteries. I’d buy a few tickets.
“Match 3 to win Putin’s assets!”
This is the best summary I could come up with:
Representatives of China, Saudi Arabia and Indonesia are privately pushing the EU to continue resisting pressure from the U.S. and U.K. to seize more than €200 billion of Russian state assets it immobilized after February 2022’s invasion of Ukraine to help Kyiv’s reconstruction efforts, four officials with knowledge of the proceedings told POLITICO.
They have already seen the EU put forward a more limited proposal to skim off the profits accrued by investing the assets, worth about €2.5-3 billion per year, with 90 percent of the proceeds going to buy weapons for Ukraine.
If so, these countries’ lobbying would follow a similar playbook to the one seen since the start of the Ukraine conflict where governments which didn’t necessarily come out in support for Russia did do some of Moscow’s bidding nonetheless.
For example, Turkey, China and the UAE enabled Russia to avoid some Western sanctions imposed after the start of its full-scale invasion, giving its economy a boost and allowing it to finance its war machine.
And throughout the conflict, Gulf states have acted as middlemen, facilitating prisoner swaps between Russia and Ukraine and brokering a deal to allow grain exports out of the war-torn country.
Any potential but unlikely market turmoil caused by a full-scale confiscation might harm countries like the Gulf states which own huge stocks of foreign currency, Keatinge added.
The original article contains 810 words, the summary contains 224 words. Saved 72%. I’m a bot and I’m open source!
Doesn’t China and Saudi Arabia understand that the sanctions are useless?
The Russian economy is booming according to the Russian leadership. The sanctions are not affecting them at all.
So… How’s it going to be? Frozen assets and sanctions not a big deal or a very big deal?
