Timothy Ash - Make $300 Billion of Russia Central Bank Monies Available to Ukraine to Ensure Victory
HTML-код
- Опубликовано: 27 июл 2024
- Timothy Ash has been arguing for more than 18 months that the $300 billion plus of Russia central bank monies “immobilised” in Western jurisdictions should be formally frozen, seized and allocated to Ukraine both to compensate it for the immense damage done by Russia to Ukraine but also to give it a chance of being able to fund the war, to secure victory, and subsequent peace and reconstruction. For much of this time it has appeared as if we have been banging our heads against a brick wall, but something seems to have changed in recent weeks months, as a number of G7 countries (the UK, the US and Canada, in particular) appear to have changed their positions and are now arguing in support of seizing the assets and allocating them to Ukraine.
----------
Timothy Ash, who has been professional economist for more than 30 years, with two thirds of that in the banking industry. Timothy’s specialism is emerging European economics, and he writes and blogs extensively on economic challenges for leading publications such as the Kyiv Post, Atlantic Council, the Financial Times, and the United Business Journal. He is also an Associate Fellow in the Russia and Eurasia programme at Chatham House and has advised various governments on Ukraine-Russia policy and specifically on the impact of sanctions.
----------
LINKS:
/ tashecon
/ timothy-ash-83a87158
www.chathamhouse.org/about-us...
cepa.org/author/timothy-ash/
----------
ARTICLES:
timothyash.substack.com/
kyivindependent.com/author/ti...
----------
SUPPORT THE CHANNEL:
www.buymeacoffee.com/siliconc...
/ siliconcurtain
----------
TRUSTED CHARITIES ON THE GROUND:
Save Ukraine
www.saveukraineua.org/
Superhumans - Hospital for war traumas
superhumans.com/en/
UNBROKEN - Treatment. Prosthesis. Rehabilitation for Ukrainians in Ukraine
unbroken.org.ua/
Come Back Alive
savelife.in.ua/en/
Chefs For Ukraine - World Central Kitchen
wck.org/relief/activation-che...
UNITED24 - An initiative of President Zelenskyy
u24.gov.ua/
Serhiy Prytula Charity Foundation
prytulafoundation.org
----------
PLATFORMS:
Twitter: / curtainsilicon
Instagram: / siliconcurtain
Podcast: open.spotify.com/show/4thRZj6...
Linkedin: / finkjonathan
Patreon: / siliconcurtain
----------
Welcome to the Silicon Curtain podcast. Please like and subscribe if you like the content we produce. It will really help to increase the popularity of our content in RUclips’s algorithm. Our material is now being made available on popular podcasting platforms as well, such as Spotify and Apple Podcasts.
![MORTAL KOMBAT 1 - KOMBAT PACK 2 REVEAL TRAILER!! [REACTION]](http://i.ytimg.com/vi/Mi2M58zEQVc/mqdefault.jpg)
They have to pay reparations for all their atrocities all through history
Totally agree. The russians decided to invade, kill and pillage.
That's a woke philosophical can of worms that must never be taken seriously. Airing grievances from centuries ago is what the unbalanced Vladolf Putler is doing. Let's no participate.
SLAVA UKRAYINI !🔱💙💛✌😊
You mean like winning WW2.
We could not have defeated Germany without Russia.
We could have defeated Germany without the USA, but not Russia as they did most of the fighting and killing of Germans and Japanese.
Yes
Its a NO brainer.....FREE the $300 B plus..
I agree wholeheartedly with Mr. Ash's argument. Ukraine's needs for weapons are dire, they need them now. Russia is the sole cause for this war, and their huge asset must be used for the just cause of Ukraine's self-defense and sustenance. Not doing so signals to Putin our lack of seriousness about this war. I applaud Mr. Ash for his common sense analysis and continuing effort to get this done.
The west started this - don’t get it twisted.
So based on this.
The world should now seize all Israel assets for its illegal war in Gaza and war crimes.
Should we in the west pay for the illegal war in iraq(based on lies).
The regime change we wanted in Syria and Libya, not forgetting Kosovo of course.
If Russia has to pay £300Bn we owe £ 50 trillion by comparison then?
There’s another reason that the frozen assets have to be used for support Ucraine: when evil remains unpunished , it’s a disaster, a dangerous precedent , an invitation for other rogue states to disregard the international law.
well spoken!
What like USA invading Iraq and Libya and NATO forces backing them up?
Exactly.
I have never in my life met an aggressor who backed down when presented with a turned cheek.
On the other hand, I’ve met a number who’ve been keen to leave quite quickly after a swift elbow in the solar plexus and a single introduction to digital dislocation.
I’ve travelled around a little during my lifetime, not always landing in the most upmarket establishments….
Ukraine!
@@robm.4512 absolutely 👍👍
Of course must the criminals pay for all the damages!
That is the rule of the world.
Fingers crossed for this amazing opportunity for Ucraine ! 💙💛
SLAVA UKRAYINI !🔱💙💛✌😊
Heroiam Slava! ✌️✌️
@@tamarasidlartchouk3138 ✌😊
George H.W. Bush did it before with Iraqi assets. We all survived that. So its not first time.
There is no alternative to the Euro or Dollar atm, China with Yuan has all kinds of capital restrictions, you're really worse off than in Europe or US.
It should be a signal, we thought about it long enough. If you invade another democratic sovereign country, we can take your money.
Bush invaded Iraq not the other way around .
Release the money to Ukraine!! Russia is a total disgrace.
SLAVA UKRAYINI !🔱💙💛✌😊
Rip Ukraine 🇺🇦
No need to steal the Russian money cause there will be no Ukraine very soon
@@andre8860it's not stealing when it was already stolen. It's recovery of stolen funds. And it is befitting that Ukraine is awarded them. Suck it pootler.
Slava Ukraine 🇺🇦
@@user-gi6ok7wf8h Russian propaganda
@@user-gi6ok7wf8h says kremlin propaganda
Very well put cogent arguments. We should do everything we can to undermine Russian aims. Surely by now Putin's malevolence towards the west is clear. He has no problem interfering in our affairs. Take the money. Give it to Ukraine. Why wait?
yeah, malevolance to the point of homicidal intent and desire, which his language re the UK in particular, has shown, for various reasons. He should be scared feces-less, and i suspect he is, bcuz a coalition of the willing can end Ru's aggressive capabilities toward the west, in a matter of a few weeks 'work', ie blowing their equipment and troops up. Not complicated, and Poo-tin knows it. He's got nuthin bcuz he cannot use Nukes at all!
I like the idea of giving Russia's 300 billion to Ukraine, but what do I know? This guy has the credentials and experience to make a compelling argument in favor of doing so.
good point ,following that logic
since ruzzia ignored Ukraines sovereignty, it can be ignored these funds are ruzzian sovereign funds!
down with the vatnik, ruski mir go home and stay there.
thanks!
@@user-gi6ok7wf8h Not really. It's money that Putin and pals have stolen from the Russian populace.
Excellent interview, Mr Ash is so right.
One of the best sources of Ukraine news.
taxpayers $ 400 billion to rebuild Ukraine, imagine $ 400 billion was used as an investment instead it is just being used to get back to normal from the destruction. what a waste. The Russian Frozen Assets will be needed as explained by Timothy Ash. A brilliant analysis. Total Annual UK Gov Expenditure £ 850 bn ...to keep the lights on..as a comparison sum.
@@user-gi6ok7wf8hlooks like Putin better save his pennies . taxpayers have POWER. Just not very bright.
"five minutes talking with the average voter is the best arguement against democracy "Churchill
Ukrainians are ROCKS. They take RESILIANCE to a new level. God bless them!
Great guest, great interview 👍
This must be given to Ukraine.
Really it would be utter nonsense
Some of this assets are debts purchased by Russia
Confiscating a party who purchase your debt is silly
@@goenzoy712 Not a problem. Go ahead and award the money to Ukraine. Details can be ironed out after the war during the tribunal proceedings. Russia has nothing to fear, because justice will be done. Russia supports justice....right?
It has nothing to do with Russia
Liz Truss was PM of UK for 40+ day's she managed to almost double interest payments
This would do the same to UK
@@goenzoy712nobody would complian about funds they have already relinquished. It's like being upset with what your employees purchase with their paychecks.
@@CONTACTLIGHTTOMMYI'm sure that once it's all added up, the razzists will still owe Ukraine a substantial amount.
I think this $300 billion should be used to help Ukraine. Quick question: how much foreign money is inside Russia and vulnerable to seizure by Putin and his goons?
Ask Bill Browder, the millionaire investor who tried to invest in RuZZia and was scammed and, after his young lawyer Sergei Magnitsky was murdered on Putin's order, became a vocal critic. TLDR: The kleptocrats have already confiscated everything, so no much left.
thats the thing. some things have value and some dont. who will buy some artificial value when you are about to lose war? Western assets have value no matter what.
@@Scroapythose are the assets that are frozen. Getting them back into the global economy is actually the best thing for everyone.
Putin already stole all the aircraft that canceled their leases.
Not a large amount. Most of it has already been seized or sold at pennies on the dollar.
Thank you, Jonathan. Slava Ukraini 🇺🇦
What’s controversial about this? If Ukraine wins it will offset some of Russia’s reparations. If Ukraine does lose, well, at least it was put towards a good cause.
The controversy is that it breaks international law to give a country's money to a third party because the first country did bad things to the third party. But it's morally justifiable for sure.
Third party? How much of that money is directly profits from Ukraine? Gas oil grain steel. The oligarchs are the ones using our banks for the interest rates. The money is owed to Ukraine.
Crushingly obvious conclusion. Thank you Jonathon and Timothy. It never ceases to amaze me that the obvious is not the concensus. If we love our children and humanity, ordinary peoplle have to wise up and demand change. I get disenfranchisement and consequent apathy. Why not tie in Gary Stevenson (inequality) because its part part of the same story, but not perhaps the right forum. Love your work man
👍👍👍
Thank you for this interview! 🇺🇦
SLAVA UKRAYINI !🔱💙💛✌😊
Ukraine could buy so many weapons with that.
Great guest, great interview.
Wouldn't it be legally easier to immediately sieze the interest (since Feb 24 2022) on frozen funds ?
After the war ends the WCC will provide legal cover for seizing the principle in the frozen accounts.
Euroclear, a Belgian firm in Brussels has around 190 billion euros of Russian origin. The company is very reluctant to hand over these funds because they fear bankrupcy if the legal framework isn't provided for them.
If it came from oligarchs it has been stolen from the Russian people, so basically they are laundering the proceeds of crime. Never mind bankruptcy, perhaps there should be some criminal prosecutions.
EU governments will provide 100% cover for all financial entities involved. Not a problem.
Competent, straightforward, honest, correct; Thank you Timothy Ash, and thank you Jonathan,
I heard that the Terroruzzians are 'salami slicing' away Sovereign land of Gruzia (Georgia) metres at a time?!
Since 2008 , it’s been readjusting the ‘new’ order hundreds of meters at a time
Agreed
❤ 🇺🇦 ❤😊
SLAVA UKRAYINI !🔱💙💛✌😊
I was interested in his analysis that the European retirees were poised to pay for Putin's invasion, totally amazing situation!
Very clear and logical position from Timothy Ash. Once again a powerful and coherent argument for action and urgency re Ukraine. Thank you both.
Hi everybody! Thanks a lot for this very informative and interesting stream. You're doing a splendid job keeping us up-to-date on important topics. We should support Ukraine much more right now and as long as it's needed. It's essential for European security. We shouldn't let dictators like Putin win wars.
YES!!! Do it! Great talk, thank you.
Another brilliant interview, thank you Jonathan and Timothy. We can only hope the powers that be will do the Right Thing ASAP ! It is so frustrating watching the mistakes by the West, of poor thinking about this war, happening in front of us. It is incredible ! Where is the Will To Win ??? SLAVA UKRAINE 💙💛
Thank you, Johnathan, for the consistent and powerful messages.
Do you think the U.S. holding back the 60 billion aid is an unexpected tool to unlock the 300 billion russian fund?
Looking forward to your next stream.❤
An interesting thought
This is a job for Boris Johnson. Reviled at home but a hero to the Ukrainians. Make him special international envoy to coral nation government’s into changing their laws to allow this.
Thanks for covering this vital topic. Great to hear Timothy Ash’s eminently sensible perspective. The clear message is: push the bean counters out of the way and get on with the job.
It's fantastic.Great news and big hope to Ukraine.🙏🙏🙏
Absolutely!!! Wise and fair proposition!!!
Always enjoy hearing the points of view of your guests. I feel as though there is tremendous hope for victory for Ukraine and I feel encouraged by the number of intelligent well educated people who are sharing their points of view with you and thereby informing us the audience of these ideas
💙💛💪🏻
The money is Ukraines. Not Russia 's.....😊😊😊😊😊
SLAVA UKRAYINI !🔱💙💛✌😊
And cal it the NAVALNY ACT
I know this idea came up in the U.S. killed by "legal" problems, I agree National Security trumps this! How to create the leverage to get this done is the issue! Keep hammering!
Yes why should russia be allowed to attack a country and not oay for the damage
Thanks for your great videos. 🇦🇺👴🏻.
I completely agree with Timothy !
Putin may well be afraid of nato , but he holds the clownshows that our legislatures have long been in deep contempt.
Begin awarding money immediately.
Simply include a proviso that Russia will be allowed recoup the money after the war, through court action. Any Russian money will be recoverable, but only after reparations obligations to Ukraine are met.
All reparations awards will be decided by special tribunals. If Russia has just claims, they can prevail in court.
i think that is INDEED the latest legal angle.
Where is it said about reparations in conditions of storing money in the West? What makes you think that Russia recognizes some kind of tribunal?
Releasing he money to Ukraine, would make other dictatorships think twice before trying to annex another nations country, and could have the added bonus of making putin cry
Excellent episode and discussion, but some behind the curtain discussions with Trump, advisors and former advisors should be had. The trustworthiness of media cuts both ways against Ukraine and it undermines Trump. There has been Russia and China at work to sew confusion which we must ignore, being more astute.
Such a great interview, as always.
A hub for UA support, uniting all UA initiatives on one platform
I think that bringing him to the UK is a good idea because he knows what they need and more. He is the best person to do that job. He has been doing everything that has to do with the military and he can explain what they want and need. Now I think that everything that has been taken from Russia's banking should be given directly to Ukraine including the interest of the money. Slava Ukraine
Thanks for your excellent work!❤
Class action of EU pensioners against greedy companies staying in RU
A USD 500 bill per European citizen will not kill anyone. Talking does not make Putin leave Ukraine. Winning a chess game where one of the players is allowed to cheat is more than naive. Dear leaders please start to lead and move equipment to Ukraine. Where the money comes from is not important right now. Higher educations seems to over complicate a simple situation.
Great point he made (among MANY great points he made) is the land corridor to Crimea being actually useless for Russia now. Many people do not realise that Russia is not able to send any more ships to Black Sea due to Turkey's wartime blockade of the Bosporus.
There is no legal mechanism to 'seize' sovereign assets. They can only be frozen.
Nations have paid reparations for centuries. Luckily, Putin has pre funded Russian reparations to Ukraine.
So important. And, here's the thing: it's not like Ukraine's trying to scam anybody or neglect their debts. They've demonstrated the exact opposite disposition.
And they can effing pay it! People forget about the resources UKR---. Ach, preaching to the choir, :-)
What is Hunter Biden's cut of that $300 billion? 🤔 Plus 10 percent for the Big Guy, of course 😂
I wanted to like the video on multiple occasions during his talk. Great guest!
Taking that Russian money for Ukraine is just a no-brainer: get it done.
I can't see the point of chaining your lead dog in the back yard when so much is going on😊. Send him out and train him to build a international inforstrucsure for his home 😊
Ukraine should put a lien on Russias frozen assets. Law suits and appeals should screw things up for Russia. Russia must pay reparations and compensate Ukraine. They may need more money.
Another excellent guest , mr. Curtain…
precedence has been set , the ruskies had finland pay war reparations after losing the winter war to ruzzia ,which i might add ruzzia started. So then why would the ruzzian argue that now they pay to Ukraine?
The war is considered an illegal one , a war of aggression, not defence.
Therefore ruzzians must and will pay up.
Fine Western firms who still operate in russia. We, as consumers, should make personal sacrifices and stop supporting these firms.
The U.S. has no strategy for any of their dealings with any country. Why? Because our strategies need to be approved by the current Presidential administration. We change those administrations too often. If our strategies were set by State Department policy.....things might be different.
This is precisely what Navalny wanted done, according to Bill Brower and Mike McFaul.
Instead of ensuring stability, hesitating governments are working on causing their citizens a PTSD, or worse. Mine is premature - some need to see the horror advance to their doorstep and physically enter their home before they pay any attention. But THAT will not just end in a PTSD
Technical point. The assets are a mix of Russian sovereign assets and private assets of investors acquired in Russia through Russian brokers. What the media talks about as “Russian state assets” are in fact all assets of both categories. They treat them both as sovereign assets solely because they are held through the Russian state securities depository NSD which acts as a bridge between Russian brokers and Euroclear. The presence of ordinary private investors as end beneficial owners is one of the reasons this issue is much more complicated than typically presented. These nuances are almost never aired in media discussion of this topic.
Should grab real estate owned by Russian oligarchs at the same time.
Well, those responsible for getting something done have already had 2 years to figure something out.
Absolute truth. My own several thousands of dollars has been frozen. And I am far from being oligarch.
@@konstantingorshkov3437 Well, frozen is not taken. And what could one do, can not make biz with nahtzees in the middle of a world war either.
Chatham House will get this figured out. They have a lot of influence with those wobbly leaders and their bean counters. I hope they can quickly though.
Yep.
It's immoral to not use the Russian assets
Fantastic analysis as usual
What are the actual mechanics of seizing the money? Has Macron’s change of position made any difference?
A happy day that’d be, but both EU & US banks + govs won’t want to risk an outflow of dirty money from dictatorships, kleptocrats, etc. So, I put the chances at about 5%.
Timothy Garton Ash was on the money in his analyses of Poland and Solidarnosc. Is this the same Timothy Ash?
No, different people.
Exec summary of this interview: Gloves OFF
Same old thing, privatize the profits and socialize the losses!
Radiohead album said it best, HAIL TO THE THIEF, when our world is ruled by nothing but money, then humane qualities such as truth and justice mean noting, and can be easily be twisted to the victors gain.
Confiscating those $300B must be done in such a way that the future BRICS currency wouldn't gain greater trust than the US dollar!
Brics currency is not going to happen any time soon, so this is a red herring.
@@SiliconCurtain we don't know when, the reallocation of the frozen Russian assets could well be that trigger for the creation of the BRICS currency and the Saudis and the rest of them could fear losing some of their assets as well. All I'm saying we need a responsible financial mechanism to take global politics into considerations when it comes to sanctions.
A BRIC currency is a joke for the time being.
I think central bankers are now wise enough to realize that if their regime commits an atrocity on the scale of Russia, their country will be subject to crippling financial sanctions.
Not Rocket Science.
@@fedorbutochnikow5312 All we need is for the victim to make a civil claim for compensation in the nation holding the frozen assets, for which those assets could act as a downpayment with the balance due and subject to normal index-linking a fair interest rate, and its payment made one of the conditions (along with extradition of war criminals and return of kidnapped people of all ages, and any other matters which should be done immediately) that would allow for the gradual slackening of sanctions.
As long as the money has been awarded as part of legitimate compensation under a fair legal framework, it need not and would not result in any loss of trust in the financial institutions of the civilised world. Iraq never got the money back that was seized when it invaded Kuwait, as there was none left after the costs of righting the wrong had been (partly) paid. Nobody lost trust in the financial institutions of the world then, and the Russian economy is smaller than Iraq's was then - for a "great" nation, the economy is tiny, and less than even that of Italy, despite the massive natural resources it has relative to that nation.
Make Western nations pay
Banks reputation is outstanding ggg
17:50.... we go digital so.. its all going to change we need a level plain field! XRP!
Ultimatum first please, say cease fire and four weeks to leave. If not bye bye funds.
Do it!!!
Is there a link to a source of the support distribution outlined in this interview, i.e. that about half of all support comes from the US? Based on data from the Ukraine Support Tracker it seems to be closer to 1/3 from the US and 2/3 from the EU and "others" - that's financial + military. Financial only the US would be even lower.
I understand the heistancy, actually. As far as I've understood it, freezing assets can be a good way to put leverage on another country. Do as we say and you get your money back. Like when Iran got their money back when they upheld their part of the deal wrt their nuclear programme. If the party holding the money can suddenly spend it at will, that seriously damages trust and future diplomacy with other actors who have their assets frozen.
Not if they use it for compensating a victim with a legitimate legal case against the original owner of the assets.
All Ukraine needs to do is make a civil claim, and legal and diplomatic niceties are completely satisfied.
Iraq did not get back the money that was used to compensate Kuwait or fund the cost of kicking it out of that country, and there was no loss of trust in international finance or diplomacy.
🇺🇦Slava Ukraini!🇺🇦🇬🇧
Give Ukraine every penny of that money now stop messing about.
this guy is based
If we legalise theft of private property, we will jeopardise the very basis of Western society. It would be interesting to find out the value of Western assets in Russia. So far the Russians have nationalised or stole about $80 billion belonging to Deutsche Bank, quoting the bank's inability to honour its financial obligations due to sanctions as reason. The west has so far stolen the assets belonging to Serbia, Iraq and Libya. Doing it again may disrupt the world's financial system and may accelerate the process of de-dollarisation. BRICS countries are already raising this question. On the other hand, The west has so far invested cca $600 billion into the war and big financial companies (Black Rock, Vanguard etc) have lost hundreds of billions in Eastern Ukraine after Russia moved in. If we lose this war, it will have a dreadful impact on Western economy. Whichever way the tide turns, this situation will change the way the world operates.
Ukrainian debt is an OUTSTANDING investment, for more than pecuniary reasons. But, ALSO for pecuniary reasons. Where are the "war bonds?" It's time for Europe and the US to get serious.
EDIT: I was going to write a disclaimer about investment advice, but then I thought, "WTF? Haha! No."
This is not helping.
There are complexities to taking money from someone else's account.
Other countries may then not trust the dollar system and this may cause another financial crises.
Standard Kremlin talking point. I say risk it.
Those who are afraid of having their assets stolen can invest into the yuan. That's what Russia has done. China is anyway the fastest growing economy in the world. Russia investing into India has contributed to fantastic growth of economy against the backdrop of anti Russia sanctions.
👍👍👍
👍👍
the idea is tempting but stupid since Russia is just able to seize western assets in the same amount. not to speak of the capital other countries might pull out because they think its not save anymore in western hands. like china for example. so a zero sum game would be the best possible outcome. it would be far better to provide the aid upfront and to tank the bill
Russia will be on the losing side of reparations tribunals, so not a problem. Tribunals could encompass nongovernmental assets as well.
Putin is ROYALLY WRECKED.
Which they already did and sold for pennies.. I think they have exhausted their possibilities to seize any foreign assets in russkmanistan.