Harry Bosch
Contributor
Any western companies that were foolish enough to trust Russia should have their assets stolen by Russia. But I'm not sure why you are whinning about this. You need to read more carefully. The REPO act can be used to rebuild Ukraine after the war is over.Some measured that Russia has more western assets in Russia than Russia in the West.Note, also passed was the Rebuilding Economic Prosperity and Opportunity for Ukraine or REPO Act. So, what sovereign Russian assets held in US financial institutions can be placed into a Ukraine Support Fund for the rebuilding of Ukraine once hostilities have ceased. This amounts to $5B. I say can. We likely won't unless the G-7 goes along. Acting unilaterally may bring some loss of confidence in the US dollar among other nations.
Now to get the G-7 to go along. There is a meeting June 15-17 and I suspect it will be a hot topic for discussion. The G-7 has pledged that Russian assets will remain frozen until Russia repays Ukraine for the damage it has done. Fat chance of that happening as the most conservative estimates have that damage exceeding all frozen Russian assets, roughly $300B. There will be the matter of expediency in helping Ukraine to rebuild so I think, I hope the G-7 will come along. It would not be in the EU's interest to have a broken and cash-strapped Ukraine reliant on possibly sporadic funding from Western nations.
In case there is not enough western assets in Russia itself we can go to ...... China and arrest/grab them there.
Yeah, and you will pay reparations for rebuilding Ukrainian Oblast too.
You're screwed
Additional good news! UK is also stepping up with a big donation to help Ukraine: