editor
The United States has taken steps to “steal” Russia’s frozen assets as funds to support Ukraine.
In total ,the US and its G7 allies have put together a loan of $50 billion to support Ukraine on a war that has nothing to do with them.
This loan will be repaid using the interest interest generated from the over $300 billion in Russia assets that have been frozen by Western countries since the the war begun.
The U.S. will contribute $20 billion, while other nations like the European Union, the United Kingdom, Canada, and Japan will cover the rest. This is a groundbreaking decision, as it marks the first time that frozen state assets have been used in this way to support another nation’s defense efforts. The money will assist Ukraine with both military needs and its broader economic recovery during the war.
Also Read; Boris Johnson’s Call to Use $300BN Frozen Assets Misguided
The move has sparked controversy, particularly from Russia, which has denounced it as “theft” and threatened retaliation. Moscow argues that seizing and using its assets in this manner violates international law. In contrast, U.S. officials defend the decision, saying it is necessary to support Ukraine’s sovereignty and ensure global security in the face of Russian aggression.
This unprecedented use of frozen assets is likely to set a new precedent for international relations and sanctions. The way Russia responds to this action could have significant implications for future global financial and diplomatic policies
This is bad, and yet they claim being democratic