Seriously? Ukraine Minister Believes Russia Should Only Contribute 50% For Reconstruction. Partners (Taxpayers) In Other Countries 25%. Taxpayers In Ukraine 25%. CBRF Gets US$170 Billion Refund?
Seriously? Ukraine Minister Believes Government Of The Russian Federation Should Only Contribute 50% For Reconstruction And “Partners” (Taxpayers) In Other Countries Should Provide 25% And Taxpayers In Ukraine Should Provide 25%.
Hopefully, He Was Misquoted
Kubrakov Is Quite Carefree With OPM- Other People’s Money
And Is The Minister Shocked When Members Of The United States Congress Oppose Additional Funding For Ukraine?
By His Math: The Central Bank Of The Russian Federation Could Receive A Refund Of 50% To 79% Of Its US$340 Billion In Currently Frozen Funds.
What’s Another US$35 Billion To US$75 Billion Taxpayers Asked To Borrow For Ukraine?
Minister’s Logic Is One Reason Why There Is Both “Ukraine Fatigue” And “Zelensky Fatigue”
Comments Shameful Given Generosity Of Taxpayers In The United States And Other Countries.
United States Taxpayers Have Given To Ukraine More Than US$113.1 Billion Since 24 February 2022- And More Previously. Not In Loans As Have Most Countries And Members Of The European Union (EU).
Calling Kira Rudik…
Politicians Always At The Ready To Add To Taxpayer Debt- If The Armed Forces Of Ukraine Offensives During The Next Four Months Are Successful, Likely More Money Will Be Provided. Offensives Fail. That’s A Problem.
Amazing US$340 Billion Has Been Frozen For Sixteen Months With No Movement To Seize It And Use It- Even If To Repay Taxpayers Who Have Funded Ukraine.
Ukraine Business News (9 June 2023): The Ministry of Reconstruction has explained where the money to rebuild the country will come from. “According to the Minister of Reconstruction of Ukraine, Oleksandr Kubrakov, 50% of the reconstruction’s financing should be covered by the seized assets from the Russian Federation. Partners will fund another 25% through various mechanisms, and another 25% will come from Ukraine. Kubrakov noted that direct damage to Ukraine's infrastructure from the war amounts to US$130 Billion to US$140 Billion. Taking direct damage to infrastructure and the economy and business in general into account, this figure has long exceeded US$300 Billion. Kubrakov claims that the most critical damage in Ukraine can be restored in two to three years if the necessary funds are allocated. The government official added that if we talk about the economy in general, as soon as the country’s logistics are restored and there is no electricity supply shortage, then business activity will reach pre-war indicators in two years.”
Since 24 February 2022, there remains frozen approximately US$340 billion in Central Bank of the Russian Federation (CBRF) assets which earn at least approximately US$9.3 billion in interest (2%) annually- US$566.6 million per month, US$18.8 million per day. Recent estimates from governments holding the funds calculate the annual interest rate could be 4%.
Among countries reported holding CBRF assets: France (US$74 billion), Japan (US$58 billion), Germany (US$55 billion), United States (US$38 billion), United Kingdom (US$31 billion), Austria (US$17 billion), Switzerland (US$8.3 billion) and Canada (US$16 billion) among other countries.
G7 Leaders’ Statement on Ukraine From Hiroshima, Japan (19 May 2023): “We are taking steps to fully map holdings of Russia’s sovereign assets immobilized in our jurisdictions. We reaffirm that, consistent with our respective legal systems, Russia’s sovereign assets in our jurisdictions will remain] immobilized until Russia pays for the damage it has caused to Ukraine.”
Group of 7 (G7): (2014-Present) includes Canada, France, Germany, Italy, Japan, United Kingdom, and United States. The Russian Federation was excluded in 2014 due to its military actions on the Crimean Peninsula in Ukraine.
Janet Yellen, United States Secretary of the Treasury (18 May 2022): “I think it’s very natural that given the enormous destruction in Ukraine and huge rebuilding costs that they will face, that we will look to Russia to help pay at least a portion of the price that will be involved.” Emphasis added.
Mr. Dimitry Peskov, spokesperson for the government of the Russian Federation, shared previously that confiscation and use of assets of the government of the Russian Federation for benefit of Ukraine would be “illegal, blatant, and of course requiring an appropriate response... It would be, in fact, outright theft.” Emphasis added.
Since 24 February 2022, governments (from their respective taxpayers) of approximately fifty (50) countries have provided (directly and indirectly) along with government (taxpayer) funded international financial institutions more than US$200 billion in commercial, economic, financial, humanitarian, military, and political support for Ukraine.
In 2022, the 117th United States Congress appropriated US$113.1 billion for Ukraine with those funds disbursed from 2022 through 2026 (or earlier as ordered equipment becomes available for delivery and other support is required). Through other spending authorities, the Biden-Harris Administration (2021- ) has allocated billions of United States Dollars in additional economic, financial, military, and political funding to the government of Ukraine. The 117th United States Congress (House of Representatives and Senate) was controlled by the Democratic Party. The 118th United States Congress has a House of Representatives controlled by the Republican Party.
The White House proposes to spend US$842 billion in Fiscal Year 2024 for the United States Department of Defense (DOD) representing an increase of 3.2% (absent accounting for inflation) from Fiscal Year 2023. The budget proposal includes funding for Ukraine- although not specifying whether the proposed funding is military-related.
“Supports Ukraine, European Allies, and Partners. The Budget provides over $6 billion to support Ukraine, the United States’ strong alliance with the North Atlantic Treaty Organization (NATO), and other European partner states by prioritizing funding to enhance the capabilities and readiness of United States, allied, and partner forces in the face of continued Russian aggression.”
“In addition, the Budget requests $753 million for Ukraine to continue to counter Russian malign influence and to meet emerging needs related to security, energy, cybersecurity, disinformation, macroeconomic stabilization, and civil society resilience.”
“To assist Ukraine and manage the aftershocks of Putin’s invasion, the request includes 469 million to bolster the economy and ensure the continuity of government services, strengthen their energy infrastructure and cyber security, and ultimately promote the resilience of the Ukrainian people.”
“This request includes $1.7 billion that will help Ukraine win the war and lay the reform and recovery foundation for winning the peace and help other partners impacted by the war stabilize their economies and prepare for recovery.”
On 24 February 2022, the armed forces of the Russian Federation invaded and further invaded the territory of Ukraine in what Vladimir Putin, President of the Russian Federation (2000-2008 and 2012- ), defined as a Special Military Operation [SMO] then on 22 December 2022 he redefined as a war. The initial invasion of Ukraine by the armed forces of the Russian Federation was in part from the territory of Belarus.
The war between the Russian Federation and Ukraine did not commence on 24 February 2022. The roots began their trajectories on 20 February 2014 when the armed forces of the Russian Federation invaded the Crimean Peninsula and the area known as the Donbas Region (Donetsk Oblast and Luhansk Oblast).
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