Loading ...G7 leaders have reached a deal to use profits from frozen Russian assets to provide around $50bn (£39bn) worth of support to Ukraine.
UPDATED — China reacts — still awaiting Russia’s response
China Blasts US For Using Ukraine Crisis As Pretext For Sanctions
China’s foreign ministry has blasted Washington’s “extremely hypocritical” stance on the war. Spokesman Lin Jian said in a daily briefing that the West is feigning that it’s “striving for peace” but all the while fueling and exacerbating the very same conflict.
His comments singled out Washington policy in particular. “The US on the one hand continues to pour weapons and munition into Ukraine, yet on the other shifts the blame of undermining peace and protracting the crisis to other countries. It even sees the crisis as an opportunity to slap sanctions and suppress others,” the spokesman said. “All of it reveals the US’s calculations, hypocrisy and what a bully it is.”
https://www.zerohedge.com/geopolitical/china-blasts-us-using-ukraine-crisis-pretext-sanctions
Under the support funding, G7 members will provide the funds using profits earned from Russia’s frozen central bank assets, most of them held in the European Union, as collateral. The finer details of how much of the money will be provided by the nations involved is still to be finalised, but leaders said it showed unity in the face of Vladimir Putin’s invasion of Ukraine.
Early in the day, they announced a sweeping new sanctions package targeting Moscow’s “shadow fleet”, which is secretly transporting oil to fund the war in Ukraine. Mr Sunak said this would “degrade Putin’s war machine”. Individuals and businesses based in China, Israel, Kyrgyzstan and Turkey were added to the UK’s sanctions list for supplying weapons, machine tools and micro-electronics to Russia’s military.
There have been many articles over past months that such a move would be internationally illegal — so Russian reaction should be interesting! Medvedev is ALREADY calling for Moscow retaliation to create “maximum damage” to NATO and this is before the stealing of Russian assets. https://www.rt.com/russia/599204-medvedev-maximum-damage-west/
You would think we would be embarrassed by the immoral and criminal behaviour of our leaders.
Perhaps there is a discussion to be had on “whom” is the target of this theft……while it will certainly be a pain in the side of Putin, $300B US to a country that just banned the use of $US and $EU for all transactions seems a little late. This surely isn’t as imminent or important a threat to Moscow as NATO troops being deployed into Ukraine. Many have suggested that such troop movements (in seriously large quantities) are already underway and yet Moscow seems to be patiently biding their time before responding (if at all). The loss of mere paper money that they no longer use isn’t close to being on the same existential threat level as “feet on the ground”. Besides Russia will recoup the money with interest over time – either via international courts or some other means.
China on the other hand has >$2 Trillion dollars of $US reserves and they MUST figure out how to protect same now that all rules have been abandoned.
Perhaps the real target is worldwide trust in the world global reserve currency ($US). Seizing assets of ANY foreign country assets should seriously impact EVERY OTHER country that utilizes the $US for trade purposes.
The globalist “team” (WEF, UN, WHO, BIS, Corporations, Elite etc.) understands that in order to create their one world government utopia, the US must be torn asunder. What better way to help this process along than to dissolve international trust in it’s ability to secure the $$$$ of foreign nations.
Moscow has hundreds (if not thousands) of sanctions implemented by the countries of NATA agains’t the state and/or individual citizens and yet the IMF moved them up to 4th place in GDP sizing just this week and despite sanctions. Russia is forecast to move into 3rd place on global scale shortly which would make it US, China & Russia. I imagine that the Russian Oligarchy must be ecstatic at how well their economy is doing as they revel in wealth.
Today is the first day of the announcement — lets see how the world reacts over the coming weeks.
As to your point on morals & ethics, that ship sailed in 2020 and has now been abandoned completely — citizens are just figuring this out!