All articles tagged with #western assets
Russian missile strikes on Western assets in Ukraine, including an American-owned factory and European diplomatic offices, signal Moscow's defiance against Western efforts to support Ukraine and pursue peace, with analysts viewing these attacks as a message of strength and resistance to Western pressure.
German Chancellor Friedrich Merz stated that Russia should pay at least 500 billion euros in compensation to Ukraine before any Russian assets frozen by the West are released, emphasizing ongoing reconstruction efforts and the impact of the war. The article also highlights Ukraine's calls for a recovery coalition and new European funding, alongside international discussions on aid and military support.
Russian propaganda media claims that Western firms could lose up to $288 billion in retaliation for the freezing of Russian assets, with G7 leaders set to issue a stronger statement on efforts to confiscate these assets for Ukraine's reconstruction. The data obtained by RIA Novosti shows that EU, G7, Australia, and Switzerland have significant investments in the Russian economy, with EU countries owning $223.3 billion in assets. Russia is reportedly preparing a lawsuit to prevent the US and EU from confiscating part of the Central Bank's $300 billion in frozen assets.
Russia's RIA news agency reported that the West could lose at least $288 billion in assets and investments if it seized frozen Russian assets to aid in Ukraine's reconstruction, following the blocking of around $300 billion of sovereign Russian assets in the West. Efforts to confiscate Russian assets immobilized in Europe are being pursued, with the U.S. and British officials aiming to garner support from G7 leaders. The data cited by RIA showed that the EU, G7 nations, Australia, and Switzerland had a total of $288 billion in direct investments in the Russian economy, with EU nations holding the majority of these assets.
Russia has taken temporary control of assets belonging to Finnish energy group Fortum and its former German subsidiary Uniper, raising concerns over the fate of other Western companies in Russia. The move comes as pressure grows to impose more sanctions on Moscow over Ukraine. Both companies have been trying to exit Russia, and the decree outlining possible retaliation if Russian assets abroad are seized shows Moscow has already taken action against Uniper's Russian division Unipro and Fortum's assets.
The Russian rouble has fallen to its lowest levels against the dollar and euro since April last year due to a foreign currency crunch in Moscow and the sale of Western businesses in Russia. The rouble has weakened from about 60 per dollar to more than 80 this week due to the West imposing a price cap on Russian oil. The reported transfer of $1.21bn to Shell for its stake in the Far East Sakhalin-2 gas project was cited as a major factor. The rouble is the third-worst performer among global currencies so far this year.