The aim is to start disbursing the funds by year end.
  • Xeroxchasechase@lemmy.worldEnglish
    51·
    20 days ago

    I didn’t understand from the article, who’s the lander? It sounds like a huge dept trap, am I wrong?

    • Saleh@feddit.orgEnglish
      18·
      20 days ago

      The loan would be repaid entirely using the windfall profits generated by more than $250 billion of Russian assets that were immobilized across Western countries after Moscow’s invasion of Ukraine in February 2022.

      Washington announced on Wednesday that it would contribute $20 billion to the loan during December, in a bid to shield its contribution from the fallout of the U.S. election. Donald Trump has previously questioned Washington’s support to Ukraine should he return to the While House.

      The agreement comes after the U.S. previously said that it wouldn’t be able to give a substantial amount unless the EU changed its rules governing sanctions.

      The EU, which is holding most of the frozen funds, pledged to give up to €35 billion to Ukraine. In the end, the bloc is expected to also allocate $20 billion. The remaining $10 billion will be split among the U.K., Canada and Japan.

      So the lenders are the countries. The debt is paid back using the profits from frozen Russian assets. So if things can go back to normal with Russia at some point, the assets can still be unfrozen and “given back”.

      At the end of the day this helps Ukraine secure funding, but also allows the lending countries to profit from the interest incurred. I have no idea how the legal rules are for handling the profits from frozen assets. But this is certainly a way to claim “moral legality” in taking some of the profits.

      Now whether this is mostly about helping Ukraine or about skimming the profits from frozen assets depends on the interest rate.

    • shortwavesurfer@lemmy.zipEnglish
      358·
      20 days ago

      The United States and Europe stole Russian assets and is using the profit from those to make a loan to Ukraine. _What Russia and every other country on earth now knows is that you cannot trust the United States if you disagree with them and should not be holding your reserves in the US dollar, but instead should be holding them in gold and other assets that are not able to be seized by the United States.

      • Isoprenoid@programming.devEnglish
        83·
        20 days ago

        What Russia and every other country on earth now knows is that you cannot trust the United States if you disagree with them

        If any country pays attention to US foreign policy, they’ve known this for decades.

        • shortwavesurfer@lemmy.zipEnglish
          12·
          20 days ago

          Other countries should make it impossible for the US to seize anything without force being required. L

          • Flying Squid@lemmy.worldMEnglish
            32·
            20 days ago

            That has nothing to do with my comment.

            Would you be okay if Israel’s assets were seized and the money given to Palestinian resistance groups? Because I’m guessing you would. That would be the ethical thing to do.

            Russia, obviously, is special to you. You’re against the ethical thing in that case, despite Putin also committing genocide.

            • shortwavesurfer@lemmy.zipEnglish
              12·
              20 days ago

              I am against the United States being able to seize the assets of other countries, whether it be Russia or Israel or Egypt or anywhere else. The US does not have the right to be able to just seize somebody’s assets. That’s called theft. And theft is wrong.

  • Etterra@lemmy.worldEnglish
    519·
    20 days ago

    A loan? A fucking loan!? You spineless potato-fuckers. GIVE! Give it to them! What the hell is wrong with you!?

    • ℍ𝕂-𝟞𝟝@sopuli.xyzEnglish
      7·
      20 days ago

      It’s a loan that the Russians are forced to repay with the profits of their assets.

      In a way it’s better than just giving them money, because instead of letting Ukraine get Russia’s bank account, they let them get some credit cards out in Russia’s name and go wild.