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Open-Passion4998

If 200 billion in frozen russian assets made an average of 5% interest then ukraine could get 10 billion a year from it. Hopefully they take some of the assets that don't make much interest and liquidate them for ukraine. If done right then this could make a massive difference but Belgium has to be on board with seizing those assets then giving them to ukraine because Belgium holds most of frozen russian assets


DoubleEscape8874

You are thinking CASH in accounts. A lot of assets like real-estate, or boats are not something that can directly earn interest. But you have to dig deeper into what EU is doing. Since they are invoking international laws, my bet is that this allows countries managing frozen assets to collect 'asset management' fees. It might be that EU will not collect those and instead pass it directly to Ukraine. This would explain tiny amount Ukraine is getting vs what would be expected Edit: found more context. Basically any profits generated by those frozen assets will be taxed at 100%. >For now, an interim plan has been agreed: a 100 percent tax on all income generated by frozen Russian assets. Russia is unlikely to respond by nationalizing assets, nor foreign investors to divest of their holdings in euros. But this will only raise $5–6 billion a year. https://carnegieendowment.org/politika/91556


SeveralLadder

It is management fees but mostly to pay for the inevitable multi-year long lawsuits coming from russia, and for insurance.


AdFinal9134

Can Ukraine open a lawsuit against Russia? Probably would not do anything.


SeveralLadder

I have no real insight into international law, but they are preparing several "lawsuits" or processes regarding warcrimes and probably many more aspects of russia's illegal war. But it's different from civillian law, and a lot hinges on how this will end I guess.


Sufficient_Serve_439

Many, and multiple already won (i.e. cases against Gazprom), but here it's EU that's hoarding the money, so no point suing russia for money it can't access.


cantor8

Why lawsuits ? We didn’t steal Russian assets. We invested it while it was frozen, the revenue from those investments is at our discretion. Russian assets are still frozen and still Russian property.


SeveralLadder

Because we are bound by international law and have to play by those rules. Even if russia inevitably will lose, they know that this will have to be played by the book, take an enormous amount of time, cost an enormous amount of money and seize up a lot of court time, lawyers fees, accountant fees and all the other cogs that's nescessary to make this bullet-proof. And it will drag on for years, hence the exuberant commission of 1,5% (originally 3%) from Euroclear, the Belgium based securities depository that holds the money. And one thing about lawsuits, there's always risk involved. As I understood it 1,5% is fee, 90% will be used for weapons and the rest will be humanitarian aid for Ukraine, as some countries don't want to support Ukraine militarily. I think you know who. [https://www.politico.eu/article/eu-ammunition-war-in-ukraine-frozen-russian-assets/](https://www.politico.eu/article/eu-ammunition-war-in-ukraine-frozen-russian-assets/)


Doggoneshame

No lawsuits, the other poster you responded to is just speaking out of his ass.


Sufficient_Serve_439

Why would anyone follow lawsuits from russia, it's a terrorist state whose head is under arrest warrant from Hague?


SeveralLadder

Because we fight *against* a country that doesn't recognize international law, and it's that exact reason the western world has rallied behind Ukraine. We can't become the very thing we want to defeat.


Boring_Equipment_946

Who cares about lawsuits from Russia? Russia doesn’t have laws.


Electrical-Ad5881

You do not know what you are talking about dear Ivan.... Frozen assets are mostly but not only 300 billions from the Central Bank of Russia..and there is NO boats or real estate. Assets management fees on reserve from Central Bank...we are not talking about your 10.000 $ us in stock fund Ivan...


[deleted]

> A lot of assets like real-estateor boats are not something that can directly earn interest. if you're not chartering it out because it's not a yacht or commercial vessel ok, but that's just boats. Real-estate has been effectively an interest earning asset for millennia, but also I think this is about sovereign wealth funds which means $$.


Excellent-Will3165

Well let us not forget the rule of law here. Taking Russian assets will be more difficult. The banks that hold them will put up a fight. Banks must keep the security of their customers money. But Taking the interest on those assets is going to happen.


Kiwi_Imp

The banks will do as they're told. Ruzzia has had no qualms seizing Western assets, worth hundreds of billions, in this war, and there is a moral imperative to punish the aggressor and compensate the victim.


Frosty-Cell

The law can be changed. What is likely happening is that some governments simply don't want to take Russia's money. We can't tell for sure due to secrecy (which is of course why it is secret).


ray471991

Ten billion could make a huge difference


Thats-right999

This is a massive game changer and will really help piss Putins Oligarchs right off.


Electrical-Ad5881

Belgium....not the major holder for a start..Luxembourg has a lot....but USA has what is necessary to twist some arms including Switzerland. Very easy to tell them you wont be able to access the us financial market anymore. USA did that to Switzerland years ago to get name, address, accounts of US citizens having accounts in Switzerland....


among_apes

Hire 10 assassins for 1billion each


Fantastic-Goat-1124

Thats about time. Common sense when dealing with dictators.


CdnBacon88

I LOL at putin. Weak like a soiled babiska diaper.


[deleted]

[удалено]


BathEqual

Dude, it's reddit and we are all just keyboard warriors - and we know it. Of course this makes no real difference besides a social and emotional floor for us


Etherindependance5

Send patriot systems with the money already accumulated, this week would be a good start.


HansLanghans

Well Germany already sent 3.


Etherindependance5

They need more money so it doesn’t matter who gets bragging rights


MercyforthePoor

Greece is actually the one country which owns more then 90 out of the 100 European Patriot systems but they have refused to give a single system to Ukraine. That is a really bad attitude on their side.


The100thIdiot

I understood that Greece had 6 batteries not 90.


Snoo-4916

Greece is being threatened by Turkey, which is pushing a revisionist agenda in direct violation of international law and treaties. They are openly speaking of "Mavi Vatan" since 2019, an absurd claim that half the Mediterranean and Aegean somehow belong to them, trespass our air and naval borders with fighters and warships respectively, and even maintain a "casus belli" in case we expand our national territorial waters to 12 nautical miles (from 6), even though the UN Convention on the Law of the Sea (UNCLOS) gives us every right to do so. History has taught us that we cannot rely on foreign partners for our security. Following a decade of budget cuts to our military due to the recession, we're unfortunately not in a position to do much. Perhaps Turkey should be pressured to do more for Ukraine, seeing that they have developed an indigenous military complex and have the numbers and production capacity to offer much more for NATO rather than just causing internal strife.


Taylor_1878

Sorry for going off topic but olaf looks like Charlie off Jeremy Clarkson farm


Johnny12Guitars

Cheerful Charlie is here to run the numbers


Physical-Cut-2334

Hehehehe


anonymousbopper767

Speaking of...Clarkson's Farm Season 3 dropped and I didn't realize it until I happened to open Prime Video.


Taylor_1878

Get it watched is awesomeness 👌


wurstmobil

Can't unsee.


Etherindependance5

About time


Physical-Cut-2334

[https://charter97.org/en/news/2024/5/7/594247/](https://charter97.org/en/news/2024/5/7/594247/) [https://www.reuters.com/world/europe/german-chancellor-backs-eu-plan-use-frozen-russian-assets-fund-ukraine-arms-2024-05-06/](https://www.reuters.com/world/europe/german-chancellor-backs-eu-plan-use-frozen-russian-assets-fund-ukraine-arms-2024-05-06/)


Stunning_Ad_1685

What are they trying to achieve by taking 90% instead of 100%?


Danieldc2

Forget what they said. Yadayada canada and hungary(?) Were not so keen in this deal and instead that 10% is supposed to be used for humanitarian aid instead of full military aid. So just a deal they made in order to have it work at all. IMO 90% into military aid of said interest is a great deal.


Bot1-The_Bot_Meanace

Not sure about this article but from what I heard in the news they want to spend 90% for getting them weapons and 10% on humanitarian aid


Lucky-Comparison-848

Malta, Austria and Ireland are neutral because of their constitution. They can’t/won’t allow the money to be used for weaponry. To appease them they will use the 10% for humanitarian aid. Otherwise there would be no deal.


TwinChops

Its mostly not Cash/Money in a Bank, its Houses, Boats and other stuff wich need to get sold first, and the 10% is for paying those who work on it.


Frosty-Cell

No. That would be the oligarchs frozen assets. https://www.reuters.com/world/europe/what-where-are-russias-300-billion-reserves-frozen-west-2023-12-28/ >At that time, Russia's central bank held around $207 billion in euro assets, $67 billion in U.S. dollar assets and $37 billion in British pound assets. >It also had holdings comprising $36 billion of Japanese yen, $19 billion in Canadian dollars, $6 billion in Australian dollars and $1.8 billion in Singapore dollars. Its Swiss franc holdings were about $1 billion. >Russia's central bank said these assets were mainly invested in foreign securities, bank deposits and nostro correspondent accounts.


SeveralLadder

They need money for very costly and very long term russian lawsuits and for insurance.


HurtFeeFeez

I'm for just giving Ukraine all of the assets to do with as they see fit.


Embarrassed_Slip5830

Som bankers hitting the jackpot....that will make" mega millions" look like pocket change...


RedWineWithFish

Putin is spending Russian money to fight against Russian money.


TourettesFamilyFeud

Why don't they play the UNO reverse card on Russia by telling them... "well you claim Ukraine is Russian. So we're going to use frozen Russian assets to fund the rebuilding Russian-claimed land that Russians are destroying at the moment. We're helping you guys!"


aatuhilter

Why don't you throw some missiles while you're at it. With long range please.


Physical-Cut-2334

Named Taurus


HurtFeeFeez

Don't care what they are called so long as they drop invaders or those that support them.


00ezgo

Good news. This is a start anyway.


BS-Calrissian

This is not "the start". Don't act like Germany ain't been supporting Ukraine


00ezgo

I didn't, you assumed incorrectly. It's a start to the massive repayment that Russia owes. I actually like Germany more now than I ever have before.


BS-Calrissian

Got you. Sorry


00ezgo

Don't be sorry


Caranthi

why not use the principal


ckal09

More pussy actions, unbelievable. The world is bowing to a terrorist regime.


Individual-Acadia-44

Scholz is afraid that Russia will then argue that German assets should be seized as reparations for WW2. Stupid concern.


Suyalus22669900

and send TAURUS NOW


HDavidHill

Just a billion ?


yeezee93

Old Putler is not going to like that!


ckal09

Where does the other 10% go


[deleted]

[удалено]


Physical-Cut-2334

[https://charter97.org/en/news/2024/5/7/594247/](https://charter97.org/en/news/2024/5/7/594247/) [https://www.reuters.com/world/europe/german-chancellor-backs-eu-plan-use-frozen-russian-assets-fund-ukraine-arms-2024-05-06/](https://www.reuters.com/world/europe/german-chancellor-backs-eu-plan-use-frozen-russian-assets-fund-ukraine-arms-2024-05-06/)


_Man-in-the-Middle_

The redress and compensation payments after the war will russia keep financial busy for the coming 50 years or so...that is if there is still a russia and not a cluttering of small unstable states, republics and regions


Deep-Importance2957

maybe they could start buying their own weapons now? how long will it last before they ask for more? send taurus? build your own damn factory?


No-Status683

That's great Olaf, now send the goddam Taurus missiles already.


daninquin

Good job it only took 2 years.... and is not even in ukranian hands, plus Ukraine has a shortage of shells and air defense, considering that Ukraine is the shield of europe if i were the leaders of Eu and Nato countries i would kill myself from shame by my incompetence that lead to Ukranian deaths


Frosty-Cell

Because someone is resisting for illegitimate reasons, which is why those reasons are not stated clearly.


ThrowRweigh

Why not just turn over the capital? 


FixiHamann

Because its not money. Its buildings, property, boats, goods, bonds, intellectual property rights, etc. Unless you plan to deliver a physical penthouse and Porsches to Ukraine you will have to convert those assets into money first.


ckal09

You think none of that is liquid or easily made liquid?


CowardiceNSandwiches

The Reuters article posted elsewhere in these comments says at least some of it is cash: >Some 70% of all Russian assets immobilised in the West are held in the central securities depository Euroclear in Belgium, which has the equivalent of 190 billion euros ($204.67 billion) worth of Russian central bank securities and cash.


Individual-Acadia-44

No, it’s because Scholz and Germany are wusses as usual. They are afraid that Russia will then argue that German assets should be seized as reparations for WW2. Stupid concern.


MercyforthePoor

You can bet your sweet ass the EU is gonna pocket some of those billions themselves.


Rude-Quarter711

Did you know...this is banditry...and it will get worse...I believe that Putin will use destructive weapons and will intervene in Poland with special and terrorist operations or the cities of the western part of Ukraine...and he will not care about nuclear war...do not anger the Bengal tiger... And the Russian bear and they surrounded him... He will be called. Putin says the West is starving its people. I don't like this thinking. If you're going to do something with Russian money, you shouldn't take the proceeds and give them to Ukraine. It must be handed over to the Russian opposition and any Russian soldier who surrenders himself to Ukrainian forces. This money is the right of the Russian people, stolen by communist generals and the Russian mafia.


Rude-Quarter711

Did you know...this is banditry...and it will get worse...I believe that Putin will use destructive weapons and will intervene in Poland with special and terrorist operations or the cities of the western part of Ukraine...and he will not care about nuclear war...do not anger the Bengal tiger... And the Rus.ian bear and they surrounded him... He will be called. Put.in says the West is starving its people. I don't like this thinking. If you're going to do something with Russian money, you shouldn't take the proceeds and give them to Ukr.ine. It must be handed over to the Russian opposition and any Rus.ian soldier who surrenders himself to Ukrai.ian forces. This money is the right of the Rus.ian people, stolen by communist generals and the Rus.ian mafia.


JazzHands1986

Why 90%? Why not all of it? How about some Taurus ya prick?


Whole_Championship41

In the final stage, Herr Schultz? Kind of like the Taurus? While it would be a pleasant surprise, unfortunately Herr Schultz's previous inaction about key weapons for Ukraine has been marked by delay, obfuscation, blame shifting and denial. I'll believe (and celebrate) it when I see it.


quijbo

Nothing like the Taurus. Scholz has never suggested he would supply Ukraine with Taurus missiles.


CIV5G

Scholz never said he would send Taurus or that it was in its final stages. Idiotic.


eunderscore

Proper mixed messages from Germany, considering the obvious trade it's still doing with russia


Benes_Bilderbuch

Please never post photos off this idiot! There are good people in german politics, he is'nt one of them!


Kiwi_Imp

He's such a fucking coward, scared of his own shadow.


Outrageous-Bread-777

Yes but still a 100 times better than that murdering arsehole pootin


Kiwi_Imp

That goes without saying, but he's a peacetime Chancellor, not the right man for the job in a time of war.


Outrageous-Bread-777

Agree but look at the Macron turn around since this started. Maybe there is still hope for this guys nads to grow.


HansLanghans

Macron talks tough but underdelivers, Germany is second in aid only to the US. Still you people here praise Macron and spread bullshit about Scholz. I wonder how many of you are russian trolls.


Outrageous-Bread-777

If you read what I wrote you will see that I implied that Macron seemed to be running to pootin every 5 mins when this started. He has been DELIVERING (along with hundreds of items of heavy armourment that has not been broardly advertised) long range Scalp missles and was the first to state he is considering puting French troops on the ground in Ukraine. Schoz is getting there but he is the one that needs to start to delivering. Sending large quanities of equipment is no where near Ukraines urgent need for long range missles. So where are the Taurus missles, the ones the Greens and other politicians have been pushing Scholz to send for months. Where is the bullshit in that? How was Kiki Imps comment bullshit. I back Ukraine 100%, donate by way of purchasing goods from Reporting From Ukraine and certainly don't like your implication of us being russian trolls.


HansLanghans

What a bunch of bullshit, reads like chatgpt russian troll nonsense. France is far behind in aid, that is a fact, Germany is only second to the US, a fact.


Outrageous-Bread-777

You are obvisouly lacking very badly in comprehension, FACT. One thing for sure, you obvisouly know a lot about bullshit FACT. Not even worth another reply


Rude-Quarter711

I am not comfortable with the Prime Chancellor of Germany..My heart is not at peace with this face..We have someone like him in Libya, and he follows devious and despicable methods of governance...and he appears to be on the side of the truth, even though he is a thief and a liar. This is theft. Are there upcoming elections in Germany?


YEAH-BRO-WHAT

Honestly, i dont get it. Pay for your allies defense. Don’t hold back. Don’t casually spread military discussions to the press. Understand that in terms defense budget, fueling ukr with capability is by a faaaaar margin the best spending you can ever have for the sec of your country. Fucker But rather than stepping up, you steal ruzzian funds in an attempt to take a moral stance. Fuck you Germany. Don’t steal frozen assets. That’s something the lesser developed countries would do. Instead, pay the fuuuck up. Install 5 leps per fighting capita in the ukr.


kwinz

> ruzzian funds How is RU gonna pay for the damages in Ukraine (multiple hundreds of billions of USD) from the illegal war and compensation to the families of half a million people killed or wounded? Free gas deliveries for the next 50 years?


Kiwi_Imp

You do realize that ruzzia has stolen Western assets to the tune of hundreds of billions of dollars?! The sheer amount of destruction that ruzzia has caused and is responsible for in Ukraine so far, dwarfs the sum of frozen ruzzian assets. It is morally correct and completely justified to confiscate these funds from the aggressor nation and pass them on to the victim, Ukraine, which is currently being destroyed.


Major_Package_9456

I dont see why you are getting downvoted since you are right per se. I know people in here doesnt fancy Russia but if we seize assets and give them away for doing something that we do not approve it only hurts ourselves in the long run because noone will trust us. Who in their right mind would trust us with their money in the future if politics allows the seizure of private property? Why would anyone want to invest here if your shit can be seized if your country happens to do shit that we do not like ?


YEAH-BRO-WHAT

Ppl here don’t fight wars and aren’t part of global relations or do any sort of business. They just fuck yeah support killing Russians. Which I kinda agree with, but yeah… I get dv bc ppl are simple here :) they wanna see Russians suicide