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    1. Affectionate_Cat293 on

      Europe’s biggest powers are swinging behind efforts to seize more than €200bn of frozen Russian assets, as they draw up plans for a ceasefire deal in Ukraine. France and Germany, long opposed to a full-blown seizure of the assets held in the EU, are discussing with the UK and other countries ways in which they could be used. French officials have discussed a proposal for European capitals to seize the assets if Moscow were to violate a future ceasefire deal in Ukraine, said three people briefed on the talks, as part of efforts to provide post-conflict security guarantees for Kyiv. Proponents of the ceasefire link see it as a way to hold Russia to any agreement and provide Kyiv with a guarantee.

      The talks come amid a flurry of European diplomatic efforts, led by France and the UK, to devise a peace plan for Ukraine, sparked by US President Donald Trump’s decision to open bilateral negotiations with Moscow aimed at ending the war. G7 allies froze about €300bn in Central Bank of Russia assets in 2022 after Moscow’s full-scale invasion of Ukraine, of which the vast majority — some €190bn — sit in Belgium’s central security depository Euroclear, with smaller amounts held by France, the UK, Japan, Switzerland, and the US. Currently, the income generated by these assets — mostly cash and government bonds — is being used to repay G7 nations for $50bn worth of loans to Ukraine, but the underlying assets are not being touched. Countries including Ukraine, Poland and the Baltic States have long pushed for the seizure of the underlying assets, but key capitals, including Berlin, Paris and Brussels, have previously pushed back because of concerns that seizing state property would set a precedent under international law. The European Central Bank was also worried that the euro’s status as a safe option for foreign reserves would be put at risk.

      Most of the assets are denominated in euros. During talks with Trump last week, Emmanuel Macron, president of France, said seizing the assets immediately would not be “respecting international law” but the money could be “part of the negotiation at the end of the war”. Germany’s chancellor-in-waiting Friedrich Merz has indicated he would consider backing a proposal involving seizing frozen Russian assets, said a person familiar with the matter. Merz is speaking with caretaker chancellor Olaf Scholz on Wednesday to align positions ahead of a summit of EU leaders on Thursday. A spokesperson for Scholz declined to comment. UK Prime Minister Sir Keir Starmer on Monday said London was looking at how the assets might be deployed. “Obviously the proceeds and profits are being used,” he told MPs, speaking after signing a deal with Volodymyr Zelenskyy, Ukraine’s president, at the weekend for the UK to lend £2.26bn to Ukraine backed by profits from sanctioned Russian sovereign assets. “On the [underlying] assets themselves, it’s a very complicated issue. It’s not straightforward,” Starmer added. “But I do think we need to do more, and we are doing more work to look at what the possibilities are at least, along with other countries.” Two of the people familiar with the French proposal said it had been well received by other European allies, but that it was far from being agreed. A spokesperson for Macron declined to comment. The camp in favour of seizure has been given impetus by the Trump administration’s threat to pull military support to Ukraine. “More and more countries are willing to use [frozen asset seizure] as leverage,” said one person.

    2. RoadandHardtail on

      This is gonna trigger whole host of reactions from Saudis, Arabs and Americans as they did in G7 last year… they better know what they’re doing…

    3. neonpurplestar on

      DOOOOOOOOOOOOOO IT, JUST DOOOOOOOOO IT!!!!!!!!!!

      YESTERDAY YOU SAID TOMORROW!!! SO JUST DOOOOOOOO IT!!!!!!!

    4. Frosty_Customer_9243 on

      Didn’t Canada seize $5 billion last week? Nothing new here people.

    5. buenoairessi on

      Lets do it, USA and Russia will scream but let fuck them

    6. >”French officials have discussed a proposal for European capitals to seize the assets if Moscow were to violate a future [ceasefire deal](https://www.ft.com/content/24357fd3-a839-4865-847f-c258933b159f) in Ukraine”

      >During talks with Trump last week, Emmanuel Macron, president of France, said seizing the assets immediately would not be “respecting international law” but the money could be “part of the negotiation at the end of the war”

      Moving towards seizing it might be the overstatement of the century. Don’t get me wrong, it’s good EU doesn’t just steal it and shoot itself in the foot.

    7. The article states that assets will not be seized, as that would be a breach of international law.

      However, considerations are being made concerning how the money could be a part of a future deal (leverage): if a future ceasefire deal were to be violated by Moscow their assets might be seized. This is one possibility that is being discussed.

      So no seizing happening for the time being.

    8. DrKaasBaas on

      This is not a good idea now that we cannot trust the US will come bail us out. Truth is, we dropped the ball and all 500 million of us are helpless against 140 million russions.

    9. wizgset27 on

      with all the doom and gloom the last few days, knowing Russia put 100s of billions into Europe and America for us to use against them never fail to put a smile on my face.

    10. vanisher_1 on

      It’s a bit sad that we’re not willing to use our money… wondering if this kind of behavior of money protection will end at some point considering that we’re talking about our security… now there’re Russia funds but tomorrow? i am still questioning if we have the money to do it given this repulsion to create every time excuses to use our money…. 🤷‍♂️

    11. mynameisfreddit on

      “if Moscow were to violate a future ceasefire deal in Ukraine”

      Being the key wording here. They can’t just steal money.

    12. epSos-DE on

      We should not size it directly.

      Why = rule if law and reputation with other nations !  Europe should be the most trustworthy economic space and all the wirld will move money to the EU. Trust is the most important thing in financial markets !

      Ukrainians should file damage claims !
      Court should work for a month or two and give a ruling.

      Then Ukrainians should give the EU money for weapons production , support + friendship or like repayments or support to Ukrainian refugees.

      We obviously will support them in defense, beca6that is EU self defence.

      Ukrainian money will float in the European economic zone in any way.

    13. hmtk1976 on

      This stupid plan again 🙄

      I’m tired of the knee-jerk attitude of Poland and the Baltics on this subject. They don’t seem to care about the repercussions when the EU doesn’t follow the rule of law and shows it’s not a reliable partner. Also, once seized, those assets can no longer be used as a bargaining chip.

      And let’s be honest… We can simply invest that money without touching the Russian assets.

    14. VomisaCaasi on

      I guess one can’t really put a money into a bank and then expect it will therefore be okay to rob the bank? In another words, can’t have cake and eat it too.

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