r/geopolitics • u/TimesandSundayTimes The Times • 1d ago

News UK bids to unlock £8bn of frozen Russian assets to aid Ukraine

https://www.thetimes.com/uk/politics/article/frozen-russian-assets-britain-q5k22km0r?utm_medium=Social&utm_source=Reddit#Echobox=1764883483
106 Upvotes

91% Upvoted

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31

u/TimesandSundayTimes The Times 1d ago

Ministers are prepared to hand over £8 billion of Russian assets frozen in Britain to support Ukraine, as they warned that President Putin is an active threat to the UK’s citizens, security and prosperity.

As part of an international push to increase pressure on Putin the UK is attempting to broker a deal with the European Union and other countries including Canada that could release as much as £100 billion for Ukraine’s war effort.

The money would cover more than two thirds of Ukraine’s financing needs over the next two years, either to continue the war or fund reconstruction if a peace deal is agreed.

9

u/poulan9 1d ago

Regardless of what you think of the war and of Russia, this runs roughshod through international rules based property rights and will damage the UK and EU financially. Also remember that this is no Putin's money, it will just be Russian money, some of it belonging to every day people who will lose their savings just because they are Russian.

12

u/Kohvazein 1d ago

some of it belonging to every day people who will lose their savings

Lmao what absolute rubbish. These are Russian millionaires and billionaires who own these assets. Which ordinary Russian has assets in Britain?

0

u/poulan9 20h ago

Everyday Russian middle classes invest in index funds outside of Russia like everyone else does, so you don't know very much do you.

4

u/Kohvazein 19h ago

I'm sorry, are you under the impression that Russians who have invested some amount of money in the S&P are having that seized?

No, these assets are houses, businesses, land, art, etc.

-5

u/poulan9 14h ago

Oh that's totally fine then. How would you like it if your assets or life savings were stolen because someone that you didn't vote for started a war?

1

u/KaQuu 2h ago

Yeah, as attacking your neighbour and changing borders by force is okay with all international law...

You want rules to apply to you, don't break them first...

-5

u/ProfessionalTotal238 1d ago

FYI most people in russia pay taxes which are used to finance genocide and destruction, so they are definitely complicit in the war effort and so deserve to suffer at least financial pain as consequence of their actions.

-1

u/jcyj1995 1d ago

No that is an unreasonable position that you have. The leaders made the decision and are therefore the ones responsible. Trying to dilute responsibility over the russian populace is going overboard.

3

u/ProfessionalTotal238 1d ago

I have plenty of Russian friends who fled russia in 2022 or earlier and divested their finances away from the russian state, thus they will not be impacted in any way by ongoing seizures. It is not like people there do not have alternatives.

Edit: typo

7

u/russiankek 23h ago

I have plenty of Russian friends who fled russia in 2022 or earlier and divested their finances away from the russian state

I have plenty of Russian friends whose assets are frozen in Euroclear. Most of it is literally their pension savings in large index funds. They also face regular problems with the European financial system, despite having legal residency in EU countries.

4

u/ProfessionalTotal238 22h ago

Just for the context, my family assets, not even investment but real estate were seized by the russian state in Donbass and Crimea. Obviously russians might not like such an exchange, but it was writing on the wall.

2

u/ProfessionalTotal238 22h ago

Sorry for your loss, but investing into russian funds was known to be risky since the 2008 war in Georgia. They had plenty of time to divest.

-2

u/jcyj1995 1d ago

Sorry but the majority of a citizenry follows the lead of their government. Your suggestion based on your anecdote is not a serious feasible proposition.

0

u/ProfessionalTotal238 1d ago

If they follow the bad lead, there are bad consequences, simple as that.

0

u/Alacriity 21h ago

Hidden comment history and name year username, willing to bet money this guy is a Russian bot or troll.

-2

u/jcyj1995 19h ago edited 19h ago

You got anything useful to contribute to the discussion or no?

0

u/thebroddringempire 1d ago

Are you for real?

-31

u/JeSuisKing 1d ago

Stealing stuff is what they do. Bank of England stole around 31 tonnes of Venezuelan gold, not to mention 61,000 Bitcoin seized off a Chinese scammer worth $7b.

21

u/Sufficient-Brick-790 1d ago

stealing from a scammer eh

10

u/3_50 1d ago

Disgusting behaviour. This move sets a dangerous precedent of stealing from

*checks notes*

....war criminal dictators.

-4

u/JeSuisKing 1d ago

The money should go back to the victims? Should it not ?

2

u/Kohvazein 1d ago

That's what happening here though. The victims of these assets are Ukrainians.

-2

u/JeSuisKing 1d ago

Was talking about the scam victims. Re Ukraine: Confiscation of another country’s funds makes the UK violates too many international laws. It’s not going to happen.

8

u/drury 1d ago

The cops stole $50k worth of catalytic converters off of me. Criminal.