Russian assets

G7 will try to use frozen Russian assets to help Ukraine

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The G7 is considering using future income from frozen Russian assets to support Ukraine, with the potential of providing Kyiv with a loan of up to billion. The group is also addressing concerns about China’s industrial practices and aims to sign off on a global minimum tax rate for multinationals. Additionally, the G7 is urging Israel to maintain banking links between Israeli and Palestinian banks to ensure vital transactions can continue.

Long-awaited aid to Ukraine, Israel, Taiwan poised to pass US Congress

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Long-awaited aid to Ukraine, Israel, Taiwan poised to pass US Congress

The U.S. Senate is set to approve billions of dollars in foreign aid for Ukraine, Israel, and Taiwan this week, following the House of Representatives’ approval of the assistance in a rare Saturday session. The package includes billion for Ukraine, billion for Israel, .12 billion to counter communist China in the Indo-Pacific, and potential measures such as a ban on TikTok. The aid is expected to pass the Senate and be signed into law by President Joe Biden, allowing for the quick delivery of military assistance to Ukraine.

House passes $95 billion Ukraine, Israel aid package, sends to Senate

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House passes $95 billion Ukraine, Israel aid package, sends to Senate

The U.S. House of Representatives passed a billion legislative package providing security assistance to Ukraine, Israel, and Taiwan with bipartisan support. The bill now moves to the Senate, where it is expected to be considered next week. The legislation includes funding for conflict in Ukraine, humanitarian needs in Israel, and support for Taiwan. Ukrainian President Volodymyr Zelenskiy expressed gratitude for the aid, stating it will prevent the war from expanding and save lives. President Biden urged Congress to approve the aid, emphasizing the urgency of the situation. Despite some opposition, the bill passed with strong support.

Russia warns Western banks of catastrophic consequences over asset confiscation

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Russia warns Western banks of catastrophic consequences over asset confiscation

The Kremlin warned of “catastrophic consequences” if the EU proceeds with plans to confiscate Russian assets. Western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets due to fears of costly litigation. EU leaders agreed to work on a plan to use up to 3 billion euros a year to supply arms to Ukraine, funded by the interest from these frozen assets. Kremlin spokesman Dmitry Peskov stated that the assets belong to their owners and warned of serious consequences for banks and the European economy if such expropriations occur.