It’s Official…
G7 Leaders In Japan Drop A Bomb.

Russia Keeps Its US$340 Billion.  Ukraine Gets Nothing Now.  Taxpayers Will Borrow To Fund Ukraine Reconstruction.

Confirmation Why President Putin Did Not Move US$340 Billion Before 24 February 2022- He Knew That G7 Would Protect It.

Irony?  US$340 Billion Remains An Asset Of The Central Bank Of The Russian Federation And A Liability For Banks Which Hold The Funds.

Janet Yellen Wins.
Vladimir Putin Wins.
Taxpayers Lose.
A Profile In Something Other Than Courage.
This Space First Asked The Question On 16 March 2022

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.

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.

LINK: 3/16/2022- Why Didn’t President Putin Retrieve US$340 Billion In Central Bank Assets Prior To 24 February 2022? He Was Prepared To Sacrifice Them. So, Why Won’t Governments Confiscate Them?

Since 24 February 2022, governments of approximately fifty (50) countries have provided (directly and indirectly) approximately US$200+ billion in taxpayer funds (with some including the Biden-Harris Administration (2021- ) borrowing on behalf of their taxpayers) to provide commercial, economic, financial, humanitarian, military, and political support for Ukraine. 

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.

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.

• On 24 February 2022, the armed forces of the Russian Federation invaded and further invaded the territory of Ukraine in what President Putin defined as a Special Military Operation [SMO] then on 22 December 2022 redefined as a war.  The initial invasion by the armed forces of the Russian Federation was in part from the territory of the Republic 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). 

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

LINKS TO RELATED ANALYSES

4/22/23- US$340 Billion Russia Central Bank Assets: Is “At Least A Portion” Then To “Should Pay” Now A Transition In Thinking By U.S. Treasury Secretary Janet Yellen? Or, Signal For More Taxpayer Borrowing?

3/19/23- Can 1,962 Words From 11 Lawmakers Create Global Magnitsky Act 2.0, Unshackle US$340 Billion In Russia Central Bank Assets, Then Use For Ukraine? Ode To “Deep Throat.” Rada Member- Tone It Down.

3/14/23- Kira Rudik, Member Of Ukraine Verkhovna Rada Gets It Right: Taxpayers Should Not Borrow Money To Support Ukraine. Unresolved: Who Gets First Their Portion Of Russia Central Bank’s US$340 Billion?

10/30/22- EU/US Scared To Seize US$340 Billion Russia Central Bank Assets. How About Giving Ukraine Only The Interest The Money Is Earning? That’s US$279 Million Per Month; US$2.3 Billion Since 24 February 2022

10/30/22- Why Didn’t President Putin Retrieve US$340 Billion In Central Bank Assets Held Outside Of Russia Prior To 24 February 2022? He Expects To Get It Back Or Never Expected To?  

10/27/22- Observations From Berlin: Twelve Comments About Financial Support For Ukraine By Conference Participants That Need To Become A Mantra 

10/24/22- Will Tomorrow’s Ukraine Conference In Berlin Focus On Desires Or Money Sourcing? Taxpayers Pay For Russia’s Deeds? Chancellor Scholz’s “Marshall Fund” Or US$340 Billion Already Available?

10/19/22- No Ukraine “Blank Check” Politically Sensible Comment. Ukraine Should Embrace It, Stay Out Of U.S. Political Process Through Elections, Lame Duck Session. Focus On US$38 Billion & US$340 Billion

10/12/22- How Today President Putin Of Russia Defines Conflict With Volodymyr Zelensky Of Ukraine? No Longer “Mano-A-Mano” Now “Mano-A-Cincuenta Y Siete-Más” And… The US$340 Billion Question.

7/24/22- Ukraine Question Few Governments, Financial Institutions (Including ECB, EIB, IMF, OCED, U.S. Treasury Department, World Bank) Want To Answer. 14 Requests, 6 Responses About US$340 Billion.

7/19/22- Oligarchs Did Not Invade Ukraine. Why Are Governments Focused Upon Assets Of Individuals Rather Than US$340 Billion In Assets Central Bank Of The Russian Federation Already In Their Possession?

7/5/22- SOS Message To Lugano Conference: Not One Dollar, Euro, Pound, Yen For Ukraine Until First Russia Has Given Up Its US$340 Billion- And Then Some More.  Stop March To Using Taxpayer Funds. 

3/16/22- Why Didn’t President Putin Retrieve US$340 Billion In Central Bank Assets Prior To 24 February 2022? He Was Prepared To Sacrifice Them. So, Why Won’t Governments Confiscate Them?