Britain is ready to borrow Ukraine all "frozen" assets of Russia - Cameron
According to the head of the British Foreign Ministry, Russia will be forced to pay the reparations after the war, and these assets can be used as a guarantee of payment of reparations. According to the experts of the publication, this plan is more radical than the proposals discussed in the European Union that only unforeseen profits from the assets of the Russian Central Bank belonging to the event are provided to Ukraine.
At the same time, the annual unforeseen profit is estimated at $ 4 billion. "There is an opportunity to use something like syndiced loan or bonds that effectively use" frozen "Russian assets as a guarantee to pass this money to Ukrainians knowing that we will return them when Russia will pay reparations. Maybe it's the best way to do it.
We We strive for the maximum unity of G7 and the EU in this matter, but if we cannot achieve this, I think we will have to move forward with allies who want to take these measures, "Cameron said on Tuesday, March 5, in the evening. The minister added that he did not think that the bond plan would somehow undermine the reputation of the London City - the Financial Center of Britain.
At the same time, Cameron first says this proposal, emphasizing in this way, most likely the political support that the plan has in the US but not in the EU. "This plan will be especially useful for Ukraine if the US Congress continues to block assistance to Ukraine, as it will give Ukraine a new source of funds for the purchase of weapons and financing its budget deficit," the Guardian emphasized.
The Big Seven has been debating for more than a year about whether the assets of the Russian Central Bank can be confiscated, frozen during the Russian invasion of Ukraine, without undermining the trust in the international financial system.
According to the EU, according to Guardian, the assets of the Central Committee of Russia worth about 260 billion euros were immobilized in the form of securities and cash in the jurisdictions of G7 partners, the EU and Australia, with more than two thirds of assets blocked in the EU. Belgium is believed to control about 190 billion assets placed in its EuroClear clearing in the euro, and it is most reluctant to adhere to the radical plan of Kemeron.
The US Treasury, which initially did not want to confiscate the assets of the Central Bank because of the intended integrity of the assets of a sovereign state, enthusiastically perceived the idea of bonds. Experts estimate that the United States has Russian assets worth from $ 40 to $ 60 billion, and the UK - about £ 25 billion, but the exact figures are not disclosed.
According to Guardian analysts, the strong side of the proposal is that arrested assets will be considered returned to Russia after payment of reparations. The weakness of this proposal is that it stipulates that Ukraine will win a military victory, and Moscow's defeated Moscow will be ready to pay reparations for the damage it caused Ukraine, which now seems incredible. The UK Foreign Minister, however, said he did not think that Putin would stop in Ukraine if he did not win.
"If we allow Russia in any form to win in Ukraine, Moldova will be in jeopardy, and some of the Baltic countries will be at risk," Cameron emphasized. Russian President Vladimir Putin has already taken action by confiscation of assets of some American companies operating in Russia. And according to analysts, Russia will veto any step of the UN on the confiscation of its assets.
At the same time, similar alienations of state assets have taken place earlier, first of all, the UN use of Iraqi funds for billions of dollars, which were intended for Kuwait reparations after the 1990 invasion. According to experts, Ukraine requires 100 billion euros a year to reflect the Russian invasion and another 50 billion euros a year for restoration.