February 13, 2023, 17:35 – BLiTZ – News EU officials, discussing the transfer of frozen Russian assets to Ukraine, admitted that they did not know where most of them were located. This is due to the fact that the structure of foreign exchange reserves was very heterogeneous. How difficult it will be for EU lawyers to find ends and what is the future of these funds, economist Vladislav Zhukovsky told the BLiTZ.
“There were not only balances on accounts in foreign banks, on correspondent accounts, which are the easiest to freeze. Most of them are securities, stocks, government bonds of European and American trusts, IOUs, and so on. These purchases have serial numbers and are reflected in depositories. But often they were bought indirectly. The Central Bank acquired them through intermediaries, legal entities (for example, in the Emirates, Turkey and China), through offshore justice, which is little controlled by the United States, ”the economist listed.
As long as the securities are not cashed out, the West does not lose anything. In such a situation, it is difficult to understand who is the real owner of the assets. Since formally their beneficiaries can be listed in the depositories of third countries of the world. The economist is sure that no one will seriously look for these assets.
However, the fact that the West cannot get to Russian assets should not be too happy either. They are still inaccessible to us and lie dead weight.
“We cannot sell them on the market, because as soon as you sell them, for example, for dollars or euros, they will automatically be credited to the currency accounts of the Central Bank or the Ministry of Finance and will be arrested. Theoretically, it would be possible to turn, for example, a scheme for the sale of depositories with a change of ownership. In exchange, Russia receives a certain exchange equivalent of the currency of those countries that have not imposed sanctions against it.
But China or India is unlikely to agree to this. Perhaps some offshore jurisdictions may try, for which this is a really serious amount. And countries with a large trade turnover and economic ties with the United States will not take risks for the sake of some tens of billions of dollars there in order to receive a percentage commission,” Vladislav Zhukovsky explained.
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The calm attitude of the United States and the European Union towards these assets is explained simply: as long as the securities are not cashed out, these countries do not lose anything. As long as no one presents these bonds for redemption, then the West has nothing to worry about, the economist believes.
Thus, there is a situation comparable to a dead calm. On the one hand, Russian foreign assets in the form of securities are difficult to confiscate and transfer to Ukraine. On the other hand, Russia also cannot really use them.
“But against the backdrop of hundreds of billions of dollars that the West has been pouring in as assistance to Ukraine since the beginning of the NWO, the frozen Russian assets are not such a significant amount,” the analyst added.
Earlier, economist Koltashov said that Russia does not need loans from China. If the government wants to find funds to cover the budget deficit, it can triple the income tax, he said.
And the political scientist Evstafiev revealed how the transport project of Russia and Iran will hit the US economy.
