International G7 Summit: $50bn to go to Ukraine Direct From the Interest on Frozen Russian Assets, Discussions for Cooperating with Developing Countries

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  • US President Joe Biden and Ukrainian President Volodymyr Zelensky are at the G7 summit in Italy and are expected to hold a press conference later today
  • Top of their agenda is a plan to raise $50bn (£39bn) for Ukraine by using frozen Russian assets
  • It is hoped that the plan, which officials say G7 members have agreed to, would give cash-starved and war-weary Ukraine another vital lifeline
  • Representatives from Canada, France, Germany, Italy, Japan, the UK and the US are at the summit to discuss issues including the wars in Ukraine and Gaza
  • The G7 summit will also involve leaders from Africa and the Indo-Pacific region, and will discuss economic co-operation with developing countries
This is a sizeable pot of money, if you compare it to the $61bn worth of US military aid that was finally agreed in May.
Some of those in Kyiv, who had been pushing for this cash, had wanted the G7 to release the whole frozen fund of $300bn, not merely the interest it is generating.
The European Central Bank had ruled that out. Nevertheless, this has been welcomed as an extremely important first step in supporting Ukraine’s wartime economy.
Unlike the US aid package, which directly translated into more missiles being sent to the front line, this money will likely not arrive until the end of the year, meaning it will have little impact on the current course of the war.
For now, Ukraine still urgently needs more weapons it says - primarily air defence systems, to blunt Russia’s attacks on its cities and power stations, as well as long awaited F-16 fighter jets, which it hopes will start arriving as early as this summer.
This $50b loan is more of a long-term solution to Ukraine’s financial and defence woes. Currently the west, on top of the weapons it has provided, is also sending Ukraine billions of dollars a year to keep its economy afloat. That includes paying the salaries of its teachers and doctors, and funding its pension payments and social care.
The idea is that Ukraine can use this money to invest in its own defence industry, and to produce weapons in collaboration with others, and in that way, over time, become less reliant on its western allies for its defence and survival. It will also be able to spend the funds repairing some of the extensive damage caused by the war, especially to its power stations, which are expensive to fix.
And this money is not just any money, it is Russian money. This is hugely symbolic for Ukraine. Its aggressor is now being forced to pay, not only to repair the devastation it has wrought, but for Ukraine to defend itself. One of President Zelensky’s closest advisors has said that the west’s decision to punish Russia in this way, in one sense, marks a turning point in the war.

---

Excellent!

While US support for Europe's future is very, very important, Europe simply has to be ready to fight its own corner on its own. Funding the defence of Europe against Russian aggression is going to be of utmost importance in the next decade, even as some allies wish to side with an out-of-control enemy nation.
 
Rofl, imagine how much of that sees the front line.

What a racket. Interesting idea though to take accrued interest from frozen assets of your enemy to fund yourself. Has this been done before? Is it even legal?

And we just committed to helping Ukraine for 10 years, the money laundering never ends
 
And we just committed to helping Ukraine for 10 years, the money laundering never ends
We are not helping Ukraine because we love them. Its because it is more financially profitable for us to
ship them our fucked up weaponry. It is more of a financial burden for us to get rid of them otherwise. Another bonus is that we can do this without losing any American lives and instead compose numerous jobs for Americans to fill up to ship the artillery. We are not signing blanks to Zelensky.....

 
Also it's not completely unusual to happen. States in the past that have had disputes with the west or even internally while also engaging with western banks have had their assets seized or frozen.

Iran in particular in recent decades.

What's unusual is that a country the size of Russia is on the receiving end.
 
We are not helping Ukraine because we love them. Its because it is more financially profitable for us to
ship them our fucked up weaponry. It is more of a financial burden for us to get rid of them otherwise. Another bonus is that we can do this without losing any American lives and instead compose numerous jobs for Americans to fill up to ship the artillery. We are not signing blanks to Zelensky.....

LOL @ still pushing this narrative that we're just sending them old weaponry. Weaponry doesn't even make up HALF of the dollar amount going to Ukraine. Get a clue.

We're wiping out an entire generation of Ukrainian males, but hey, arms manufacturers are profiting and employing people! How noble.
 
Peppridge farms remembers when Horse Jockey Putin, said the war would only take a couple weeks. That Manlet ruined his countries future.
He basically has turned Russia into a B level Saudi Arabia, economy wise. A country that large with that many resources has a smaller economy than California and New York. Well maybe not New York, because they are still reeling from the Trucker boycott. I heard the people living in New York, have resorted to cannibalism, due to the trucker boycott of New York. So sad, because all tiny Putin is concerned with is stealing his peoples money. A career politician should not be worth billions, like Putin.
 
LOL @ still pushing this narrative that we're just sending them old weaponry. Weaponry doesn't even make up HALF of the dollar amount going to Ukraine. Get a clue.
Yes because we are spending most of the money on American Corporations to make weapons and to pay American workers too. Even then, its just a pint of our military budget and its helping Americans with jobs. You gotta be very naive to think that the government is supporting another country out of kindness.

Not to mention, Russia lost 87% of its troops since the start of the war. I would say thats a win since Putin as greenlit the U.S. as an enemy.
 
Yes because we are spending most of the money on American Corporations to make weapons and to pay American workers too. Even then, its just a pint of our military budget and its helping Americans with jobs. You gotta be very naive to think that the government is supporting another country out of kindness.

Not to mention, Russia lost 87% of its troops since the start of the war. I would say thats a win since Putin as greenlit the U.S. as an enemy.
What made you think I thought the US was being kind? They provoked and shoved the Ukrainians into this conflict to the detriment of Ukraine. They are losing an entire generation of males in a futile conflict that could have been completely avoided.

Again, you are missing the point. Not all of the money is even going to weaponry, we are helping fund the Ukrainian government. We ARE giving them blank checks.

American Weapon Manufacturers can go fuck themselves. They are not helping the average American. Why do you want to see them profit? These people are complete scum and belong in prison.
 
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What made you think I thought the US was being kind? They provoked and shoved the Ukrainians into this conflict to the detriment of Ukraine. They are losing an entire generation of males in a futile conflict that could have been completely avoided.

Again, you are missing the point. Not all of the money is even going to weaponry, we are helping fund the Ukrainian government. We ARE giving them blank checks.

American Weapon Manufacturers can go fuck themselves. They are not helping the average American. Why do you want to see them profit? These people are complete scum and belong in jail.
What are you waffling about. Russia started this war through trying to absorb another nation. If they just minded their own business and acted like a half-decent government, this would of never happened. You expect Ukraine to just sit back and let them get absorbed by another nation through militant force?

Can you give me a source on us giving Ukraine blank checks?

Also onto your last point. Its just the nature of the capitalism, they are still composing more jobs for Americans....if you dislike the fact that the jobs only hire people with degrees thats a different story all together.
 
LOL @ still pushing this narrative that we're just sending them old weaponry. Weaponry doesn't even make up HALF of the dollar amount going to Ukraine. Get a clue.

We're wiping out an entire generation of Ukrainian males, but hey, arms manufacturers are profiting and employing people! How noble.
Ukrainians are fighting whether we send these weapons or not. This is giving them a chance. Blood is not on the hands of the West but rather I Putin for invading without proper justification
 
- Surprised Biden doesnt send to IGF, so they can kill more civilians in the name of freedom!
 
Imagine thinking Russia aren't to blame for this conflict lol

Not only did they invade Ukraine without provocation, they planned it for years, and could end it at any time.

But let's pretend this war is money laundering lol
 
Imagine thinking Russia aren't to blame for this conflict lol

Not only did they invade Ukraine without provocation, they planned it for years, and could end it at any time.

But let's pretend this war is money laundering lol
You don't think NATO provoked the conflict at all?
 
Imagine thinking Russia aren't to blame for this conflict lol

Not only did they invade Ukraine without provocation, they planned it for years, and could end it at any time.

But let's pretend this war is money laundering lol
Why did American state public officials like Nuland and others visit the protestors if Russia started the conflict?
2014/2013

Why are there American senators speaking for other countries and their citizens? shouldn't they be representing their own states?
Senator John McCain: “We Are All Ukrainians”


nuland112way-f7e246cd9396ac138e8870d163b4d0713852f431.jpg




Ukraine has been torn part by violent protests since Yanukovych walked away from a trade pact with Europe in November and sought a bail out from Putin.
 

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