The European Union wants to finance Ukraine’s war efforts using a loan based on Russia’s frozen assets in Belgium. If that falls through, there’s no easy alternative.
i was listening to a podcast by richard wolff recently and he described an economic situation in 3 to 4 generations where europe is in a sorry state and that was the reason why they're arming themselves.
if it comes to pass, i wonder what sort of retaliation the russian would impose if the europeans do this and i also wonder if the belgian authorities are aware or even care about it.
3
☆ Yσɠƚԋσʂ ☆ - 4w
I expect that Russians will take Euroclear to court outside western jurisdiction. For example, Euroclear does business in HK, so they could be sued there. The very fact that EC is trying to come up with clever schemes here is itself an admission of guilt. They know what they're doing is not legal, and they're trying to find a way around that. This isn't going to help their case at all when things go to court. Given that they would almost certainly lose, that would completely destroy confidence in Europe as a safe jurisdiction to do business in or keep assets. The assets are basically a poison pill and if Europeans are dumb enough to swallow it, there's going to be huge economic blowback.
The bankers are very much aware of all this and Euroclear has already said that they will sue the EC if they try to steal the assets. Belgium has been been fighting this tooth and nail so far as well. They demanded collective guarantee from the rest of EU if they were to do this, and nobody stepped up. So, they know they'll be thrown under the bus when the fallout starts to unfold.
it makes me wish that lemmy had some way of making unpopular facts more visible because that in this post get buried by the upvotes of the other posts.
yogthos in europe
The European Union wants to finance Ukraine’s war efforts using a loan based on Russia’s frozen assets in Belgium. If that falls through, there’s no easy alternative.
https://www.nytimes.com/2025/11/17/world/europe/ukraine-russia-frozen-assets-european-union.htmlhttps://archive.ph/ToW7z
i was listening to a podcast by richard wolff recently and he described an economic situation in 3 to 4 generations where europe is in a sorry state and that was the reason why they're arming themselves.
if it comes to pass, i wonder what sort of retaliation the russian would impose if the europeans do this and i also wonder if the belgian authorities are aware or even care about it.
I expect that Russians will take Euroclear to court outside western jurisdiction. For example, Euroclear does business in HK, so they could be sued there. The very fact that EC is trying to come up with clever schemes here is itself an admission of guilt. They know what they're doing is not legal, and they're trying to find a way around that. This isn't going to help their case at all when things go to court. Given that they would almost certainly lose, that would completely destroy confidence in Europe as a safe jurisdiction to do business in or keep assets. The assets are basically a poison pill and if Europeans are dumb enough to swallow it, there's going to be huge economic blowback.
The bankers are very much aware of all this and Euroclear has already said that they will sue the EC if they try to steal the assets. Belgium has been been fighting this tooth and nail so far as well. They demanded collective guarantee from the rest of EU if they were to do this, and nobody stepped up. So, they know they'll be thrown under the bus when the fallout starts to unfold.
thanks for the context and it's funny that i was just reading this in another post.
it makes me wish that lemmy had some way of making unpopular facts more visible because that in this post get buried by the upvotes of the other posts.