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Apr 23, 2022
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Kyiv puts pressure on Washington and London: Give us Russian billions

Kyiv puts pressure on Washington and London: Give us Russian billions

Photo: DPA/TASS

Ukrainian appetites are growing by leaps and bounds. Kyiv daily demands from its Western allies not only moral and political support, new sanctions against Russia, more weapons, but also money for its maintenance. Now the United States and its partners are puzzled, where to urgently find 5-7 billion dollars for monthly “Wishlist” of the “square”.

In Kyiv, everything has been invented for a long time. They are coveting the frozen assets of the Central Bank of the Russian Federation and, like real racketeers, they persistently offer the West to take them from Russia and give them to Ukraine. In the US, however, such an adventure is questionable. As the US Treasury Secretary said at a press conference Janet YellenWashington is not yet sure that frozen Russian assets can be handled so freely.

“I’m not sure if this is possible. [сделать] without [соответствующего] legislation allowing the use of these assets,” the US Treasury Secretary said, adding that the consequences of such a move must be “thoroughly weighed.”

However, the official believes that the restoration of Ukraine after the completion of the Russian special military operation will require “enormous” funds, part of which “one way or another will have to turn to Russia.”

Caution regarding the issue of frozen reserves of both the Central Bank of Russia and the blocked assets of Russian businessmen is also being shown by London, where they clearly do not want to take responsibility for possible consequences only. British Prime Minister Spokesman says Boris Johnsonthe decision will be made at the international level.

“We are discussing this issue, the decision has not yet been made,” he said.

So far, for financial assistance to Ukraine, the International Monetary and Financial Committee (IMFC) proposes to create a donor account, the funds of which are planned to be spent, including on the restoration of the country. True, it is not clear who is really ready to become a donor. Apparently, as always, they hope that it will either resolve itself, or they will figure out how to put it on Moscow. But for the actual robbery of Russia in the West, they have not yet come up with a legislative framework, but, judging by the events of recent years, they are less and less reminiscent of international law, and property rights, and many other rights, if they do not suit the United States in some way and their loyal vassals.

Doctor of Law, Specialist in International Law Alexei Ispolinov draws attention to the fact that at the moment the funds are frozen, but not confiscated.

— They are still considered the property of Russia. No one seized them, did not deprive (Russia – ed.) of the right of ownership. Russia has these means, but they are not available due to the fact that it is believed that Moscow allegedly violated the norms of international law, and this falls under what is called countermeasures in international law.

Countermeasures are also expressed in illegal actions, such as the current freeze, but from the point of view of the actors, they are not a violation. Of course, we can say that we are right, that we have the right to self-defense etc. This is an evaluative question: we think so, they think so.

“SP”: – What is it fraught with?

— With the exception of Iran, foreign exchange reserves have never been frozen. Now this is the second time. Accordingly, this raises the question of the reliability of the state where these gold and foreign exchange reserves are stored, because today they said one thing, tomorrow another, the day after tomorrow they have claims against the third, fourth state.

You can confiscate, that is, turn into your property, only by a court decision, and this is a lawsuit etc.

As SP explained Doctor of Economic Sciences, Professor Alexander Safonov current international law does not provide for the withdrawal of funds in favor of someone.

These are not economic, but political statements.

“SP”: – But it is the money that they want to withdraw. So how will they rob and with what consequences?

– The US Treasury will have to recognize the fact that it is impossible to save the funds that are transferred to them for the purchase, for example, of their securities, that is, US Treasury bills. This means that, firstly, at least the margin should increase; secondly, in the long term, all countries that somehow have problems in relations even with individual bodies of the United States of America will be afraid to place their assets in US securities.

Thus, they undermine the nature of the Bretton Woods agreements, when the United States guaranteed that they ensure the free movement of funds, including the dollar as an international means of payment.

In this case, this means that countries will try to switch to direct relationships in settlements. Thus, the need for dollar emission will decrease, and accordingly, the income of the United States of America will decrease.

In addition, any attempt to seize someone’s property without a trial, without legal grounds, only by political decision means that the constitutional rights that are recorded in the United States and other countries are violated, especially when it comes to countries such as China, India and a number of others. So in this regard, everything is quite complicated.

It seems to me that they will think a thousand times whether it is worth doing it before such a real opportunity arises.

“SP”: – Johnson appeals to some kind of “international decisions”, apparently referring to the collective West, which considers itself the ultimate truth.

— Now there is a lot of political noise, so it is difficult to predict how events will develop.

“SP”: – What can Russia do in response?

“If there is a robbery, then it should be about seeking compensation. But, most likely, in this case, we should take a position that we should not be like robbers and bandits.

We must act more carefully. You have to be patient and sue.

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