"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
    • @Beaver@lemmy.caEnglish
      23•4 months ago

      Damn straight. Ukraine needs help now western countries!

      Give them weapons,money and troops to defeat the Russian Empire.

  • Shawdow194
    24•4 months ago

    While Western countries have frozen $300 billion in Russian assets, they can only access the income generated by these funds, approximately $3.2 billion, annually.

    By setting up a fund with loans to be repaid using this income, countries can offer immediate support to Ukraine beyond this amount.

    I wonder why they cant liquidate a percentage of any of the currently held assets? I guess most are intangible? Or some other international law preventing direct asset control

    • @NotMyOldRedditName@lemmy.world
      16•4 months ago

      They probably can, but it’s a further escalation in sanctions and would set a precedent that investments in another country aren’t safe.

      By holding them, it also gives an incentive to end the war. Stop the war and get 300 billion back!

      Edit: someone else referred to it as the carrot (held money) and the stick (donated weapons). Carrot and stick is better than stick and stick. Better up to a point anyway…

    • veroxii
      14•4 months ago

      Another article said it was mostly the IMF objecting worried about trust in the international banking system and the precedent it would set

    • @Cikos@lemmy.world
      2•4 months ago

      i assume its an estimation on how much they can liquidate 50b assets. its an insane amount of money, my neighbor is selling their house and its still up years later.

      • @zabadoh@ani.social
        1•4 months ago

        For bank interest, stock dividends, matured bonds, those are cash, so those are easy.

        For stock, real estate, and other non-liquid assets appreciation, probably not so easy.