Thursday, April 13, 2023

"EU Will Return Frozen Russian Reserves"

Probably for the best. If you get a reputation for seizing and confiscating stuff, that label tends to stick with you. Speaking of which, from Venezuela's* TeleSUR, April 13:

"...€300 billion are widely dispersed throughout Europe..."

On Thursday, as reported by Die Welt, the European Commission arrived at the determination that it is highly probable that the frozen reserves of the Russian central bank shall need to be returned in due course.

Kiev has issued a request for the allocation of financial resources to be utilized for the purpose of facilitating its post-war renovation and rehabilitation.

As per the article's discourse, despite the overt backing of the notion of allotting funds to Ukraine by prominent officials in the EU, notably the European Commission President Ursula von der Leyen, executing the same could prove to be challenging in practicality and is predisposed to fail for diverse grounds.

Die Welt reported that anonymous insiders familiar with the EU's plans have explained that the frozen reserves of the Russian central bank amounting to €300 billion are widely dispersed throughout Europe and are deposited in numerous accounts. These accounts often have no direct connections to Moscow....

*Under Chávez Venezuela expropriated the oil company holdings. Then the oilfield equipment. Then he grabbed Cargill's rice plant and then people decided that maybe they couldn't trust this fellow. 

We have quite a few posts on Venezuela, partly because their oil resource could have given them the highest per capita GDP in the Western hemisphere and partly because Hugo and then Maduro were, as the kids used to say, whack.

Previously, Hugo on baseball (apparently a Sox fan):

"Go to hell, shit Yankees, we are a dignified people, go to hell a hundred times," Chavez shouted at a political rally to thousands of roaring supporters dressed in red...
On the U.S. Executive branch:

Chavez: "Obama vaya a lavarse ese palto"
Rough translation:
Obama, go wipe your ass.

And speaking of trust issues, "Did the Bank of England ever return the gold they took from Venezuela?"

Before the seizure of Russian - and Russian citizen's - assets, before the Canadian government began freezing citizen's bank accounts sans any type of judicial review ("It's an emergency" honk, honk) before GoFundMe stole the $10 million donated to the Canadian truckers - a decision since reversed after people started disputing the charge on their credit cards, something that was going to cost GFM $15 per disputed charge - before all that, the Bank of England took Venezuela's gold.

And now that the Biden administration is treating with Maduro the gold-grabbing might be important and as far as I can tell the BofE never gave back the gold they took....