Defeat on the financial front. As Ukraine forced Russia to pay for the war

The decision of the event to provide Ukraine with 50 billion euros at the expense of Russian frozen assets by economist Vitaliy Shapran considers the greatest financial victory over the aggressor. Now the question is how to take advantage and what about the victory of Ukraine on the financial front, its predictability and inevitability.

In June this year, the G-7 made a very significant decision: the allocation of $ 50 billion in Ukraine, which will be serviced by confiscation of income from Russian assets. According to the results of the same meeting, the G-7 in its communique noted that Russia should "put an end to its illegal aggressive war and pay for the damage caused to Ukraine. " The losses were estimated at $ 486 billion.

Both events are very significant, as the EU and other G-7 members have joined the legislatively approved initiative of the US and Canada for the confiscation of Russian sovereign assets. Someone may note that it is only about confiscation of income from frozen assets, but there are reasons why in our particular case there is no fundamental difference between assets and income from these assets.

First, in the US and Canada, the confiscation of Russian assets was set: at the level of national law, the possibility of such confiscation and its algorithm is approved. Secondly, the EuroClear management (a depository of securities with a headquarters in Brussels) has repeatedly stated that there was no difference between confiscation of frozen assets and income from them.

The Euroclear management can be believed, since the main burden of legal risks lies with this institution where a significant part of Russian sovereign assets is immobilized. Therefore, on June 12-13, there was a historical event when G-7 reported Ukraine about the beginning of the confiscation of Russian assets in favor of Ukraine, and Russia was reminded that the losses caused $ 486 billion to be paid for the war.

On June 24, the EU representative on foreign policy Josep Borrel confirmed the EU's willingness to send € 2. 5 billion in revenues from Russian assets by the end of this year. According to Mr Borrel, the first tranche is expected in July this year. Now I want to remind part of my analytical article for IA "Interfax-Ukraine" "Economic reasons of war" of 10. 06.

2022: "Russian assets arrested in the event will go to military, financial and economic assistance to Ukraine, because for the destroyed cities, villages Roads and businesses have to be paid, so no one will return these assets of the Russian Federation. " Two years have passed before the forecast began to come true, and I am grateful to everyone who was related to work for a good result, but we are still at the start.

Ukraine needs to revive the process of confiscation of Russian assets and simultaneously expand the base of such confiscation. I regularly meet the complete delusion that the issue of confiscation of Russian assets is a legal problem. There are no problems because the US and Canada have already developed and implemented the confiscation of such assets at the legislative level. It is already arranged by the G-7 that not politicians are serving lawyers, but lawyers serve politicians.

Therefore, the problem is not in the legal plane. Other problems, and you need to work on them. Let's dwell on several of them (for example): Of course, the Russians will never receive the assets that have been immobilized. This is confirmed not only by the G-7 position, but also by the beginning of confiscation of income from Russian assets that have the same legal status as the assets themselves, which is confirmed by Euroclear.

Ukraine would be rationally obtaining a greater level of access to Russian assets, not only to prevent negative economic trends and put in the place of fiscal idiots, but also to deprive the Russian Federation tools for financing aggression and nominal foreign exchange reserves. As of now, there is absolutely all opportunities for this, they have to take advantage of them. And we can not mention our Ukrainian classic TG.