Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Russia-Ukraine War

1189190192194195208

Comments

  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    The fear should be what happens if Ukrainians lose



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    The narrative that difference in shell use is widening is wrong, the situation is getting better as production ramps up and allies via several initiatives are sending shells to Ukraine, some like Norway are sending blueprints and equipment/tooling so Ukrainians can manufacture at home, private companies like Rheinmetal are opening factories in Ukraine

    None of this is happening in Russia who are having to beg North Koreans for help, even their allies in Iran are insisting Russia pays upfront in gold of which Russia only had about 100bn at time war started

    Could more be done faster, definitely

    That 300bn of Russian state seized assets that EU is blocking from transferring to Ukraine would buy a lot of equipment and ammo and give quite a boost to European industries, that’s something like 6 years of current Ukranian war expenditure

    No wonder the Americans and Brits are looking on exasperated, if half Europe endsup a glowing radioactive dump when Putin’s missiles eventually hit a nuclear plant he keeps aiming for it be EU who would suffer the most



  • Registered Users, Registered Users 2 Posts: 2,786 ✭✭✭Hoop66


    I think that there is probably a fear in the US intelligence/analysis community about what happens if Russia is defeated in Ukraine. Could Putin hold on to power post a Russian defeat? Or would power fracture and we end up with a bunch of squabbling states, some of which have nuclear weapons? That, to me, seems the most likely reason for the reticence in giving Ukraine the full go ahead.



  • Registered Users, Registered Users 2 Posts: 2,210 ✭✭✭Paddigol


    Has there been any public discussion worth talking about on the release of Russian siezed funds? It would seem an obvious drum to beat for a sizeable portion of mainstream journalists who are pro-Ukraine, but it doesn't seem to be a live issue.

    Ditto, why have the Biden Administration and Downing St. not been leveraging pressure on the EU to act on releasing funds if the funds are indeed there to be released? What's at play in the background?



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    The US and UK have been putting pressure on EU

    The ball and the blame is very much in EU court

    FT had a an article titled “The clash over whether to commandeer Russia’s frozen assets” from 3rd of May, can’t post link to unpaywalled version but here are snippets from very long article

    IMG_5383.jpeg

    ECB and key EU states holding it back

    IMG_5384.jpeg

    That’s a fairly sick claim, if Europe has more skin in the game perhaps Europe should do more about this war eh?

    IMG_5385.jpeg

    The result is a fudge to use interest on these assets but even here Hungary holding up things

    IMG_5386.jpeg

    They worried more about their own assets in Russia which have already been confiscated and sold for most part

    IMG_5387.jpeg

    Why the hell would Russians trade Donbass etc for 300bn when they spent 600,000 lives and there’s trillions in resources there



  • Advertisement
  • Registered Users, Registered Users 2 Posts: 5,326 ✭✭✭fly_agaric


    I agree with you generally, but I think the skin the bankers and I presume the financial industry & all their lobbyists in Europe are talking about is wealth belonging to the world's autocracies invested here. A lot of that may flee the EU if/when Russia's reserves held here get appropriated, esp. if it happens in a fairly rushed or arbitrary way.

    These people (financial industry & central bankers) have a one eyed view and don't care about the war, its outcome, or Ukraine anyway imo. Probably would not mind a bit if the Russian military actually marched to Berlin or Lisbon per the delusional Putin propagandists (!) so long as all their & their clients wealth was kept nice and secure and well protected by a new regime!



  • Registered Users, Registered Users 2 Posts: 6,390 ✭✭✭Wolf359f


    So have the US and UK handed over the billions in seized assets to Ukraine yet?

    It's very easy singling out the EU for not doing it, but why not question why the US and UK haven't done it yet either?

    If it's such a trivial thing, the US and UK should show the EU how it's done instead of putting pressure on the EU. Could it be not as simple as the US and UK make out? Sure the UK are still sitting on the £2.5 billion sale from Chelsea. That was supposed to go to Ukraine but it's still sitting in a UK bank account and that's a seizure from a private individual and not a sovereign country. Should be a piece of cake right?



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft




  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    You are mixing up Oligarchic assets and Russian State assets

    Literally oranges vs watermelons

    And yes not only US have been transferring these they even passed the laws needed to for this, something not even started in EU

    Look I am extremely supportive of EU as an institution but we have to admit they have seriously dropped the ball here

    EU has the funds to end this war, funds that doesn’t require spending a cent of European taxpayers money

    Which would also send every shithole regime a strong message of what we stand for

    Instead EU are praying each time there’s a missile barrage that a nuclear plant is not hit and half of Europe is not rendered uninhabitable for next few thousand years



  • Registered Users, Registered Users 2 Posts: 5,326 ✭✭✭fly_agaric


    I get your point. I do not agree myself with these arguments against seizing it.

    Some of it will go home.

    I suppose, if there's some kind of division between Western countries over seizing the Russian govt. assets and it doesn't happen everywhere as a big bang, some of it would go to countries that didn't get their hands dirty doing it, or were opposed to it (?).



  • Advertisement
  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    The key question to ask is why those assets where in Europe in first place

    I am sure Putin knew we’ll months in advance he was going to start the war but he still gambled that EU is too weak and greedy to do anything about these assets

    And he has proven to be right

    Likes of Saudi etc invest in western economies precisely because there is literally nowhere else for them to stash their loot, everywhere else is either corrupt as hell and assets would disappear or don’t have a fraction of the liquidity of markets and laws to protect assets

    They can’t keep the wealth at home as how would they keep it there? There’s no amount for example of gold on this planet to store let’s say Saudi oil earnings in

    and that’s before we get to all these places not even wanting to keep their own kids and wives in their own country



  • Registered Users, Registered Users 2 Posts: 5,326 ✭✭✭fly_agaric


    I suppose they are here (in the EU, or in the West) because they are/were safe (stable predictible democratic states with strong rule of law and independent legal systems) + earn okay return. Same reason other autocracies/dictatorships might do it.

    I would say Putin didn't think too much about the fate of these assets on the day after when planning because he expected to crush Ukraine quickly, throw a huge cloud of fud similar to the invasion of Crimea, roll out a puppet administration and have a fait accompli to present to the world before anyone could respond to what Russia had done.

    I have always thought these should all be taken and handed over to Ukraine post-war as an enforced reparation (I assumed Russia would pay 0, and there is natural justice in recompensing Ukraine with their assets), but if Ukraine needs them before then, I can see some argument for doing it sooner.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    What the EU and ECB are doing is what we seen go on and on for years during the Euro crisis when Germany was all high and mighty lecturing (including this country) and sneering at everyone for not being as smart about economics as them , in what turned down to be a sham economy powered by Russian gas, selling out tools and tech to China and protected by US military

    Until it got to a point when ECB done exactly what was thought as “unthinkable” and everyone just shrugged and moved on and euro was saved and interest rates for likes of Irish debt fell

    This “crisis” of not resolved could lead to terrible consequences for Europe, like I said earlier, we should all fear what will happen if Ukraine falls or worse one of Putin’s missiles hits wrong thing



  • Registered Users, Registered Users 2 Posts: 13,390 ✭✭✭✭TheValeyard


    All eyes on Kursk. Slava Ukraini.



  • Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    I wouldnt call Germany a sham economy but they do have issues that will drag it down , they have a stupid energy policy (shunning nuclear), and they manage to have a foreign policy that alienates itsself from major markets, not sure how they turn it around but insert cold sniffle analogy for Europe

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    Maybe sham is too harsh a word but it has been exposed to be for a one trick pony dependent on Russia and China both of whom used them for own aims

    If only there was 300bn that could be spend on type of heavy industries and weapons manufacturing that Germany has that could be found in the back of the couch somewhere to kickstart things 😃



  • Registered Users, Registered Users 2 Posts: 6,390 ✭✭✭Wolf359f


    I am not mixing up state and oligarch assets.

    $300 billion in Russian state assets have been frozen.

    The US froze $5bil and have given Ukraine zero. Unless you can point me to where they have transferred some of that $5 to Ukraine as I haven't seen any evidence they have.

    The UK froze over £8bil and have given Ukraine zero.

    I'm asking why both the UK & US are pressuring the EU to hand over Russian seized assets when both the UK and US have handed over zero?

    My point about seized oligarch assets was the UK still have not handed over the proceeds of the sale of Chelsea to Ukraine and that's a far easier endeavor as it's personal assets and not sovereign assets.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    You mentioned Chelsea, was that a state asset or an oligarch asset

    US has transferred oligarch seized assets as far back as 2023

    US passed REPO act in spring, banks started reporting Russian assets in early summer, transfers will be done once they find all the loot

    Meanwhile nothing in Europe along those lines is even on the books to pass as law in first place

    I am not sure why you choosing this hill to die on, as it seems in time you will endup on wrong side

    EU and eu states need to be called out for their feet dragging



  • Registered Users, Registered Users 2 Posts: 6,390 ✭✭✭Wolf359f


    I mentioned the sale of Chelsea to show that the UK not only haven't handed over Russian frozen sovereign assets, they haven't even handed over oligarch's frozen assets, which they agreed to. Seizing private citizens assets is far easier than state ones, case in point, even in Ireland, we have laws to seize private citizens ill-gotten assets.

    Now can you show me where the US have handed over some of that $5bil state assets they seized?

    I've no problem with you pointing out the EU should be handing over those seized funds, but I've an issue with you giving the UK & US a free pass.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    You are using the old tried and tested whataboutery technique to downplay and deflect from actions that can be taken in Europe to end this war faster at Russias expense too

    In US all banks had to report any Russian assets to Treasury by 2nd August and within 10days of any new assets

    https://home.treasury.gov/news/press-releases/jy2479

    Next step probably in next few months would be transfer of these assets

    Now where are similar laws to REPO in Europe?

    The US and UK have sent insane amounts of weapons and funds in hundred billion plus range to Ukraine while likes of Germany is busy shouting they will cut aid because Ukrainians will be getting a couple of billion from interest on these state assets



  • Advertisement
  • Registered Users, Registered Users 2 Posts: 649 ✭✭✭Avatar in the Post




  • Registered Users, Registered Users 2 Posts: 649 ✭✭✭Avatar in the Post


    Self fulfilling - The Russians don't want to spend scarce money on it because it would be wasted if Ukraine take it out with a missile.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft



    Netherlands and 7 other EU states want to stop Russian diplomats (aka spies) and their families travelling freely across Schengen borders

    Germany, Austria and Italy are opposed of course!



  • Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    It would be silly for Europe to start stealing assets of other countries, other creditor nations will only start looking for the exits down the road, given the state of the US economy the last thing the US need is more $ crises or higher interest rates

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    Stealing?

    Criminal asset forfeiture has plenty of precedent in both national and international laws

    Russia started an illegal criminal war, committed war crimes and their president is even wanted at The Hague

    Best of luck to them arguing this war of theirs is not criminal in a court

    If anything might set an example that causes future Fuhrers from starting stupid wars in Europe if it makes them stop and consider what might happen to their loot

    ——---

    Russia; we will destroy post WW2 world order and peace institutions while spitting on laws like Geneva conventions

    Also Russia: bwhaaaaa they breaking the rules!



  • Registered Users, Registered Users 2 Posts: 4,349 ✭✭✭joseywhales


    I don't get the comment on the us economy. Which by all measures is by far the more resilient and powerful economy on the planet for at least 80 years + . The most technologically advanced country and the largest energy exporter in the world, they dominate every sector. Nobody comes close.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    You are not the only one, I asked earlier if not western countries then where exactly all these third rate places invest? There is literally nowhere else with rule of law, low corruption and the depths of markets available



  • Registered Users, Registered Users 2 Posts: 18,973 ✭✭✭✭Dohnjoe


    Russia stole foreign assets.

    As for the Russian assets in the system, they are indefinitely frozen due to the invasion. That didn't cause some exodus from the global systems by authoritarian states.

    As to whether they could be liquidised to rebuild Ukraine - that's more of a legal and geopolitical issue. Currently the interest is providing around 3 billion worth of annual credit to Ukraine.

    Of course if they really wanted to, I'm sure they could find a way to legally sell them, but perhaps they want to keep that in the back pocket as leverage against Putin's regime.



  • Registered Users, Registered Users 2 Posts: 1,928 ✭✭✭thatsdaft


    Russia stole a quarter of another country

    If someone breaks into your house robs it clean and then starts squatting in living room, you sure as hell wouldn’t be calling the CAB as “criminals” for seizing the bank assets of that robber/murderer/squarter in your house and giving it to the victim

    Or going on about how this would set bad precedent for other criminals not to keep their loot in the bank



  • Advertisement
  • Registered Users, Registered Users 2 Posts: 2,321 ✭✭✭dinorebel




This discussion has been closed.
Advertisement