So that’s the
Russian response to European permanently freezing the huge amount of 300
billion USD equivalent of assets? To sue them? That’s on par with the situation
that got them there, idiocy-wise...
On December
12, the European Union agreed to indefinitely freeze Russian central bank
assets held in Europe, probably in view of using the cash to help Ukraine against
Russia, with a major loan package for Kyiv. To do so, EU states aim to put to
work some of the Russian sovereign assets they immobilized after Moscow's 2022
invasion of Ukraine.
The EU
governments agreed to immobilize 210 billion euros ($246 billion) worth of
Russian sovereign assets for as long as needed instead of voting every six
months on extending the asset freeze.
This sum is
taken out of the approximately amount
said to be over 300 billion dollars, most of it held by Euroclear, a private
company with several branches, holding some assets for the Russians, among
others, as a depository and for future transactions. They intermediate the
buying and selling of bonds, stocks, hard currencies and gold, forming the bulk
of Russian state assets.
Now,
how did the Europeans get their hands on such a big Russian treasure? Through
their fault, namely by the chief of their central bank. The governor of Russia’s central bank, Elvira Nabiullina, didn’t recall
the assets when she knew the war was about to start. So, the debut of the war
caught her with her pants down: over $300 billion of Russian assets in foreign
hands…
Yet she is still the governor of the central bank, as
if nothing happened, position from which she further undermines the Russian
economy. By limiting to the extreme the money supply, and by maintaining the
freedom of exchange versus the major currencies. People and businesses looking
to borrow in Russia can only do so at enormous rates, close to 30% annually.
What was the
Russian state response to this de facto expropriation? It was as lame as
they come, and even this joke of a response didn’t come from the state itself,
but rather from the central bank. Russia's central bank filed, the same day, a
lawsuit in Moscow against Brussels-based Euroclear, which houses most of the
frozen Russian assets that the EU wants to use to finance aid to Ukraine.
„Due to the
unlawful actions of the Euroclear depository that are causing losses to the Bank
of Russia, and in light of mechanisms officially under consideration by the
European Commission for the direct or indirect use of the Bank of Russia’s
assets without its consent, the Bank of Russia is filing a claim in the Moscow
Arbitration Court against the Euroclear depository to recover the losses
incurred,” the central bank said in a statement. Good luck too that, your
chances are zero...
Thus, the imbecile Nabiullina, who got caught
by the beginning of the war with 300 BILLION dollars of Russian money in enemy
hands (money gone for good), wasn’t bothered by anybody in Russia for the huge
loss for which she is directly responsible… I don’t think there is one single other country where a
person losing 300 billion dollars would have kept his/her job.
The Russians hold little hope for the money to be returned.
The Trump’s 28-point „peace” plan calls for ALL the money (300 billion dollars)
to end up under American control, and be used partially for Ukraine (with the
US sharing in the profits), partially in joint operations US-Russia. No Russian
disputed this point as being ludicrous… They are ready to waive the money away.
This is not the single example of huge imbecility at
the helm of the Russian state without any accountability.
Kiril Dimitriev, in full or partially, the inept
28-point Trump peace plan – tantamount to a Russian capitulation – and presented
it to Putin, who was about to sign away ALL territories in former Ukraine,
which would have received the status of occupied lands (“de facto“) legitimizing any future attempts to return
them to the rightful, “de jure“, owner, Ukraine, and to
give American mineral rights in Russia proper, to give all Ukraine to the US as
guarantor, with the implied right of having armament and troops on Ukraine.
Miraculously, he too STILL has his job.
I can add another name of an impostor: Margarita
Simonyan, head of RT, who splashed a lot of cash on American minor
pseudo-influencers (but I mean A LOT of cash) with zero effect and zero rationale.
Apparently, she paid 150,000 dollars participation fee (at a RT
conference/event) to general Flynn, of all people. Some time ago, it’s true.
How can Russia have such brilliant engineers and
technical people and such utterly incompetent dimwits in leading position of
economics and management?
