EU 'Finds' €90 Billion for Ukraine, Not From 'Frozen' Russian Funds
Bloomberg's latest scoop informs us the EU has secured a €90 billion loan for Ukraine, a move celebrated as a victory. The kicker? It won't use the estimated €200 billion in Russian sovereign assets conveniently 'frozen' in Europe. (Because apparently, holding assets hostage is one thing; actually using them for the stated reason is quite another.) This financial sleight of hand means European
taxpayers will eventually foot the bill for both the principal and interest on this new loan, while Russian state-owned funds remain untouched, almost as if legal precedent or future 'negotiations' are more sacred than immediate justice or financial burden on citizens. So, the 'frozen' billions sit, a geopolitical trophy perhaps, but too hot to actually use. It appears some national treasuries are
more equal than others when it comes to expropriation, or perhaps (and this is pure speculation) the EU fears that actually seizing these funds would set a precedent—one that might make other nations a tad nervous about parking their wealth in European banks. How many times can a global financial system 'freeze' assets without 'thawing' confidence?