by Martin Armstrong, Armstrong Economics:
EU Economic Commissioner Paolo Gentiloni has claimed that the Group of Seven (G7) will release $50 billion in frozen Russian assets to Ukraine by October. These leaders agreed at the last meeting on June 13 that they would indeed take the money they confiscated from Russia and provide it to Ukraine in terms of a loan.
They stipulate this by saying they will only loan Ukraine money made on the profits of holding these assets. The risk will be shared among the G7 nations, and this risk is substantial, for Ukraine will no longer exist as a nation when this is over based on our computer models. Zelenskyy is too busy stuffing his pockets to actually care about his people or the future. He is banking on NATO invading Russia and extinguishing it as a country so he can then seize all the assets of Russia for Ukraine.
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The Pandora Papers revealed that Ukraine had the highest number of politicians from any country with a secret offshore account. Even Forbes Magazine said that Ukraine owes it to the West to clean up the outrageous corruption. NATO could not even permit Ukraine entry due to its overtly corrupt politicians.
These nations are teetering on the edge by using these assets as collateral. If they were to actually give Ukraine the frozen assets, Putin would then be justified to just confiscate ALL assets held by Western countries and private/public corporations. These actions by the G7 completely violate international law. What’s more, these nations are now threatening foreign banks in nations like India to cease funding Russia or risk being debanked or blacklisted by the United States and Europe.
No sum is ever enough for Ukraine. Zelensky is demanding the full $300 billion in frozen Russian assets. Reports state that the income generated from the $300 billion has only reached $3.2 billion on an annualized basis at this time. Yet, the European Commission released $1.6 billion to Ukraine on July 26, which does not include the proposed $50 billion incoming loan.
“There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live,” European Commission President Ursula von der Leyen proudly stated. She forgot to add that 90% of these funds will go right back to Europe to reimburse them for the aid they have sent Ukraine. It is beyond morally corrupt to recirculate illegally confiscated assets in this manner.
“The extraordinary revenues generated in this context by the EU operators do not belong to Russia and are held by CSDs,” or central securities depositories, the EC released in a statement. “The EU has now started to channel these revenues to Ukraine.” So, the commission felt they could steal assets from Russian people and corporations simply residing in a country they sanctioned? Europe is not at war with Russia, technically, and neither is the rest of the G7. Ukraine is not a member state. The West unleashed a new form of economic warfare that would be used against them as any “unfriendly” nation could easily turn around and withhold funding from another country.
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