"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
    • Beaver @lemmy.caEnglish
      231·
      16 days ago

      Damn straight. Ukraine needs help now western countries!

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

  • Shawdow194@kbin.run
    24·
    15 days 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·
      15 days 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@aussie.zone
      14·
      15 days ago

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

    • crispy_kilt@feddit.de
      10·
      15 days ago

      Because rich people don’t want the precedent that their money can be taken if they do bad things.

    • Cikos@lemmy.world
      2·
      15 days 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·
        14 days 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.