Ukraine intensifies initiatives to confiscate Russian assets – WaPo
Kiev has intensified its efforts to claim frozen Russian assets in light of Donald Trump's reelection as US president, according to the Washington Post. Read Full Article at RT.com.
TroibNews 
Ukraine has ramped up its efforts to confiscate frozen Russian assets in light of Donald Trump’s reelection as US president, according to a report from the Washington Post on Friday, referencing unnamed officials. Kiev is optimistic that Trump’s business savvy and influence within the EU could align some of the opponents of this action with its objectives.
In the wake of the conflict escalation in February 2022, Western nations froze around $300 billion belonging to the Russian central bank that was held in foreign accounts, a step which Russia has labeled as theft.
Although funds from these assets are currently being utilized to support a $50 billion loan to Ukraine from the G7, many Western countries have hesitated to take the extreme step of confiscating the assets outright. Detractors of the measure, including Belgium, Germany, and France, are concerned that it could establish a dangerous legal precedent and damage trust in the Western banking framework.
The Washington Post noted that Ukrainian officials are convinced that Trump could help sway the opinions of reluctant nations if he perceives the initiative as advantageous for the US.
“We firmly believe that it’s President Trump who can be a change maker,” stated Irina Mudra, deputy head of Ukrainian President Vladimir Zelensky’s office.
“[Trump] has the power to change the stance of more-skeptical countries… they know he’s not joking, that his are not just hollow words. That’s exactly why we need his help convincing our partners that transferring Russian assets is a necessary tool to finish this war,” she added.
Kiev aims to position the confiscation of Russian assets as a viable source of financing for military needs and post-war reconstruction. In a discussion with podcaster Lex Fridman, Zelensky indicated that he had previously “spoken to Trump” about the potential of utilizing the money to procure US-made arms.
“I told him, take the $300 billion of frozen Russian assets… and we will buy all the weapons from the US… It will be very good for your industry,” Zelensky remarked, calling this approach a crucial security guarantee for future negotiations with Moscow.
Analysts believe this proposal might resonate with Trump, especially considering his ‘America First’ philosophy and advocacy for reducing foreign aid.
“That’s a very clear quid pro quo. And they would love for Trump to adopt that argument and basically say to the Europeans, ‘Look, if you want me to continue to supply Ukraine with weapons, well, let’s buy them with Russian assets,’” Jacob Kirkegaard of the Peterson Institute for International Economics noted.
Former US President Joe Biden’s administration had shown tentative support for this concept, but Trump’s position remains unclear. Reports indicate that some EU nations would rather keep the assets frozen, seeing them as potential leverage for future negotiations with Moscow.
Russia has consistently criticized the freezing of its assets. Kremlin spokesperson Dmitry Peskov warned in December that Moscow would take legal action against any attempts to reroute the funds it considers “stolen” to Ukraine. Russian officials have also cautioned that Moscow could reciprocate by utilizing income from frozen Western assets held within its territory.
Debra A Smith contributed to this report for TROIB News
In the wake of the conflict escalation in February 2022, Western nations froze around $300 billion belonging to the Russian central bank that was held in foreign accounts, a step which Russia has labeled as theft.
Although funds from these assets are currently being utilized to support a $50 billion loan to Ukraine from the G7, many Western countries have hesitated to take the extreme step of confiscating the assets outright. Detractors of the measure, including Belgium, Germany, and France, are concerned that it could establish a dangerous legal precedent and damage trust in the Western banking framework.
The Washington Post noted that Ukrainian officials are convinced that Trump could help sway the opinions of reluctant nations if he perceives the initiative as advantageous for the US.
“We firmly believe that it’s President Trump who can be a change maker,” stated Irina Mudra, deputy head of Ukrainian President Vladimir Zelensky’s office.
“[Trump] has the power to change the stance of more-skeptical countries… they know he’s not joking, that his are not just hollow words. That’s exactly why we need his help convincing our partners that transferring Russian assets is a necessary tool to finish this war,” she added.
Kiev aims to position the confiscation of Russian assets as a viable source of financing for military needs and post-war reconstruction. In a discussion with podcaster Lex Fridman, Zelensky indicated that he had previously “spoken to Trump” about the potential of utilizing the money to procure US-made arms.
“I told him, take the $300 billion of frozen Russian assets… and we will buy all the weapons from the US… It will be very good for your industry,” Zelensky remarked, calling this approach a crucial security guarantee for future negotiations with Moscow.
Analysts believe this proposal might resonate with Trump, especially considering his ‘America First’ philosophy and advocacy for reducing foreign aid.
“That’s a very clear quid pro quo. And they would love for Trump to adopt that argument and basically say to the Europeans, ‘Look, if you want me to continue to supply Ukraine with weapons, well, let’s buy them with Russian assets,’” Jacob Kirkegaard of the Peterson Institute for International Economics noted.
Former US President Joe Biden’s administration had shown tentative support for this concept, but Trump’s position remains unclear. Reports indicate that some EU nations would rather keep the assets frozen, seeing them as potential leverage for future negotiations with Moscow.
Russia has consistently criticized the freezing of its assets. Kremlin spokesperson Dmitry Peskov warned in December that Moscow would take legal action against any attempts to reroute the funds it considers “stolen” to Ukraine. Russian officials have also cautioned that Moscow could reciprocate by utilizing income from frozen Western assets held within its territory.
Debra A Smith contributed to this report for TROIB News
