Ukraine has made another idea of Russia's 300 billion assets seized by the West. German News Agency reported on October 22 that Ukrainian Prime Minister John Smegal told reporters on the Sunday edition of Germany's " Frankfurter Report " that Ukraine is "anxious" waiting for the new ammunition they need "just". "This is almost a few days." The report said that Smegal hopes to use Russian assets frozen abroad to carry out reconstruction. He said the losses caused by the Russian attacks are currently "over $750 billion." At the same time, Russia has assets worth $300 billion to $500 billion, he said. He said: "We should establish a mechanism to confiscate Russian assets."
Ukrainian Prime Minister Johnny Shmegal
In fact, the Ukrainian Prime Minister had long been thinking about the 300 billion Russian assets seized by the West. As early as July 4, Shmegal said at the Ukrainian International Conference on Reconstruction that Ukraine expected to require US$750 billion to complete the three-stage reconstruction plan. Shmegal said that the Ukrainian government believes that the main source of funding for the reconstruction plan should be the confiscation of assets of Russia and Russia's " oligarch ". Obviously, Ukraine has long set its sights on the $300 billion assets, and Smegal has been planning for a long time. It can be said that this is the Russian assets that Ukraine believes can be obtained. After all, Western countries have had voices before that they want to compensate Ukraine for these seized assets.
You should know Estonian , Latvia , Lithuanian and Slovak Finance Ministers urged EU in April this year to create a way to use frozen Russian Central Bank assets to fund Ukraine's reconstruction. Obviously, such arguments also give Ukraine more room for imagination. After all, if it can obtain the consent of the United States and Europe, transfer the seized Russian assets of more than 300 billion US dollars to Ukraine, it would be like Ukraine to make a fortune. In fact, the $300 billion in assets seized by Western countries is not only because Ukraine wants to get the money, but also the United States and the European Union want to get the money.
"New York Times " reported on April 27 that the U.S. House of Representatives passed a bill on the 27th calling on White House to sell sanctioned Russian oligarchs to provide military and humanitarian aid to Ukraine. However, the bill is not binding, but it also reflects the United States' desire to legalize related assets in Russia. On September 21 this year, the U.S. Department of Justice asked the U.S. Congress to legalize at least $300 billion of “freeze Russian assets into confiscation”. However, the United States does not seem to have done that. Even the United States has made a statement, preparing to discuss using Russia's assets to pay aid to Ukraine, but in the end, the United States did not implement it.
In fact, how can the United States not salivate for Russia’s 300 billion US dollars? But the United States has not legalized these seized assets for more reasons, and has no intention of transferring them to Ukraine. The first thing the United States is worried about is that the dollar hegemony system will be impacted and affected. Although the United States is greedy for the fat piece of Russia in front of it, it has lost the long-term interests of the United States because of US$300 billion, which is obviously not cost-effective. Once the United States swallows Russia's $300 billion, it will inevitably lead to Russia's counterattack against the dollar hegemony in the international financial system . Russia will contact more countries, establish a new settlement system, and even launch direct attacks on oil bound by the dollar hegemony, which is likely to lead to unstable US dollar foundation.
Secondly, the benefits the United States wants to reap far exceeds that of this $300 billion cannot lose the big one because of small amounts. The reason why the United States provoked the conflict between Russia and Ukraine was obviously to make a plan. The real purpose of the United States is to reap Europe's wealth. The US Treasury bond deficit is as high as US$3.1 trillion. It is almost difficult for the United States to survive without an economy that is comparable to the United States to take the lead. There are reports that the U.S. has harvested $3.00 billion in Europe, while the U.S. targets 9 trillion.Although the United States sells high-priced natural gas , which is exploiting Europe, the related manufacturing industries in Europe have not been completely transferred to the United States. Once the United States confiscates Russia's $300 billion, it will inevitably lead to chaos in the international financial system. The United States will likely fail to complete its harvest plan. The United States cannot lose big because of small things.
Third, the United States cannot destroy its own credit system, after all, it is not worth it now. The reason why the hegemony of the US dollar can continue to reap the world is actually inseparable from the US dollar credit that the US government has always maintained. In order to ensure that the United States uses US dollars in trade settlements around the world, the United States must require the US dollar to give the country credit so that other countries will not regard the US dollar as waste paper. If the United States insists on confiscating Russia's overseas assets, this shows the truth. The so-called private property between the United States and Europe cannot be violated and the spirit of contract is nothing more than empty talk. Then the whole world begins to abandon US dollar assets, which is tantamount to self-destruction of the future for US financial hegemony.
Swiss Federal Council Chairman Iniazio Cassis emphasized at the press conference on the closing ceremony of the "International Conference on Reconstruction of Ukraine" in early July this year that protecting property rights is the foundation of freedom and democracy. Cassis believes that "ownership and property rights are a basic right and a human right." Obviously, Switzerland does not want to participate in the legalization of seized Russian assets. After all, this will affect the status of Switzerland's international financial center . And Russian Ambassador to the United Kingdom Andre Klin once said on July 5 that London may not dare to do so, because it will destroy its reputation as the "world's financial capital". Obviously, it is not just the United States, but also old financial capitals like Switzerland and the United Kingdom, who are also afraid that confiscation of Russian assets will lead to a complete collapse of financial credibility.
Swiss Federal Council Chairman Iniazio Cassis
Finally, the United States actually benefits little from confiscating Russia's 300 billion assets, so the United States naturally does not need to do that for the time being. You should know that only a small part of the Russian government's overseas assets are in the United States, and most of them are stored in Europe, including the Bank of International Settlements in Switzerland. This means that even if the United States confiscates most of its assets, it will remain in Europe, which is simply not conducive to the United States taking these funds for itself. Moreover, once these funds are handed over to the Ukrainian government in the name of aiding Ukraine's reconstruction, the United States cannot get them, so why bother? For the United States, there is no big benefit for the time being, so why should we take the risk of the financial system being impacted by Russia and make profits for others?
In fact, although Russia cannot retrieve these seized or frozen funds for the time being, these funds are only in a frozen state. From a legal perspective, these funds still belong to Russia, but the West temporarily seized and frozen them under various excuses and names. However, once Western countries treat the more than 300 billion yuan of funds in the name of confiscation, it is equivalent to completely confirming their intention to openly rob. For Ukraine, no matter what name it is used, as long as you can get the money into your own hands, nothing else matters. But the question is, will the United States do thankless things? The United States' temporary rejection of Ukraine's request is not because the United States wants to let go of these assets of Russia, but the United States feels that it is not worth the money for the time being. (The pictures in this article are from the Internet)
