European Commission President Ursula von der Leyen called on the European Union to significantly strengthen its defense capabilities and urgently increase ammunition production.
Moldova's Transnistrian breakaway region has turned to Moscow for help in a standoff with the central government, as the government of pro-European President Maia Sandu seeks to reassert control over the Russian-speaking enclave.
Russian opposition leader Alexei Navalny, who died in prison earlier this month, had previously accused authorities of trying to disrupt the activist's funeral, and his supporters say he will be buried in Moscow on Friday. Announced.
US and Europe at odds over wiretapping EUR260 billion Russian assets
The United States and its European allies say they are determined to use frozen Russian assets in some way to help Ukraine. Brazil is debating the best way to do that this week without running into legal and financial crisis.
Western countries have frozen about 260 billion euros in securities and cash, more than two-thirds of which are in the European Union. All agree that these funds should be banned from Russia unless Russia pledges to help rebuild Ukraine. But the two sides are at odds over whether it is legal to completely seize assets and cross the Rubicon, making it a challenge to squeeze out money without depleting assets.
with russia on the front legs Militarily, as the invasion enters its third year and aid from the United States faces Obstacle Congress is increasingly willing to consider what was once considered high risk. The United States is leading the push, with Treasury Secretary Janet Yellen saying this week that the legal and moral case is strong and seeking to allay European doubts.Britain also announced support to seize assets.
France and Germany, along with the European Central Bank, have expressed the highest level of caution. They are concerned about Russian retaliation targeting European assets and the impact on financial stability and the euro's status as a reserve currency, the people said. The danger, it is argued, is that such drastic measures will set a precedent and encourage other countries to avoid holding foreign currency in Western currencies in case they one day face similar penalties.
“There is currently no legal basis to seize Russian assets,” French Finance Minister Bruno Le Maire said Wednesday after a meeting of finance ministers from seven major countries in Sao Paulo. “We have to work harder.”
G7 officials and lawyers are considering a wide range of options to present to leaders at a meeting in Italy in June, as any action would require political decisions at the highest levels, officials said. said the people.
All proposals involve some risk. Some use Russian assets as collateral and raise cash through bonds issued by or sold to Ukraine. That would avoid the issue of full foreclosure, but would ultimately result in similar legal challenges. This is because the ownership of the asset must change in the first place before it can be used as the basis for new financing.
One proposed workaround, which may be more acceptable to skeptics, is to use the principal without actually seizing it.As an idea outlined Charles Litchfield of the Atlantic Council said G7 governments would provide “guarantees” to the market that frozen assets would not be returned to Russia unless they agreed to pay for Ukraine's reconstruction.
Von der Leyen warns Europe needs to strengthen defenses against threats
European Commission President Ursula von der Leyen said Ukraine's allies should consider using profits from frozen Russian assets to buy weapons for Kiev, adding that Europe could not risk a wider war. He warned that it is necessary to prepare for the risks of
Speaking in the European Parliament on Wednesday, he called on the European Union to significantly strengthen its defense capabilities and urgently ramp up production of ammunition.
Referring to the windfall on frozen Russian assets, von der Leyen said, “What better symbolism and what better use for that money than to make Ukraine and all of Europe a safer place to live?” No,” he said. “Ultimately, this means that Europe is responsible for its own security.”
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“We need to act quickly. The threat of war may not be imminent, but it is not impossible,” von der Leyen said. “We should not exaggerate the risks of war, but we must be prepared.”
Von der Leyen's comments came as the European Commission, the EU's executive arm, is scheduled to release a comprehensive defense strategy next week.as reported by bloombergThe document includes proposals on how to rapidly expand regional defense production and designate joint military projects for EU funding, including space, air and missile defense.
The EU is gradually moving ahead with plans to apply a windfall tax to profits generated by largely locked-up funds held by Belgium-based clearing firm Euroclear. Last year, the fund netted him 4.4 billion euros.
The move comes amid warnings that Russia may seek to target NATO allies after its war with Ukraine and growing doubts about U.S. commitment to European security, especially if Donald Trump is re-elected to the White House. The EU's efforts to strengthen its defense are gaining urgency after years of underspending. .
Moldova's rebel regions appeal to President Putin as power declines
Moldova's Transnistrian breakaway region has turned to Moscow for help in a standoff with the central government, as the government of pro-European President Maia Sandu seeks to reassert control over the Russian-speaking enclave.
The plea for help from Russia was made at a parliament convened on Wednesday in Transnistria's capital Tiraspol in response to what the self-proclaimed regime claimed was economic coercion by the Moldovan government.
The development was reminiscent of the events leading up to Russia's invasion of Ukraine, but fell short of widespread speculation that the pro-Kremlin region was about to hold a referendum on joining the Russian Federation. territory of Ukraine.
Moldova's ambassador to the US, Viorel Ursu, dismissed the Transnistrian move as “orchestrated by Russia to create a diversion”.
“They have been seeking reunification with Russia for decades and have held referendums before,” he said in an interview in Washington.
US officials say the US has not yet seen any credible evidence that Russia plans to annex Transnistria, and the US continues to monitor the situation given previous Russian interventions said.
Moldova, a landlocked country with a population of 2.6 million people sandwiched between Ukraine and Romania, has been in an intense energy crisis since Russia began its war against Ukraine two years ago due to its traditional dependence on Russian gas. under pressure.
The tensions also affect Moldova's relations with Transnistria, a narrow strip of land on the eastern border with Ukraine that is home to ethnic Russian separatists who run a pro-Kremlin breakaway republic. As well as military units, it is also home to a Soviet-era ammunition depot and a major power plant that provides electricity to the entire country.
Navalny's funeral will be held in Moscow on Friday to challenge Putin
Russian opposition leader Alexei Navalny, who died in prison earlier this month, had previously accused authorities of trying to disrupt the activist's funeral, and his supporters say he will be buried in Moscow on Friday. Announced.
Navalny will be buried at the Borisov cemetery in the city after a funeral was held at a church in the Marino district in southeastern Moscow, his spokeswoman Kira Yarmysh said on Wednesday, speaking to supporters of the politician. In a social media message calling for
The funeral will take place a day after President Vladimir Putin delivered his annual address to the Russian Federation parliament. Even amid the Kremlin's unprecedented crackdown on opposition, the scale of the turnout shows opposition to his rule just weeks before a March 17 general election that will give him six more years in power. It seems to be a demonstration of the strength of
“It remains to be seen whether there will be peace or whether the police will arrest those who came to say goodbye to her husband,” Yulia Navalnaya, Navalny's widow, said in a speech at the European Parliament in Strasbourg, France, on Wednesday. ” he said.
Hundreds of people have been arrested after laying flowers in memory of Navalny in Moscow and other cities since his death on February 16 in a remote prisoner of war camp in the Arctic. Yarmysh said on Tuesday that Navalny's allies had tried unsuccessfully to organize a farewell for him in Moscow, but no one was willing to lend them a venue.
“Some people say they are full. Some people refuse when we say the last name 'Navalny,'” she said. “In some places, we were told that funeral directors were prohibited from working with us.”
Authorities handed over Navalny's body to his mother, Lyudmila Navalnaya, on Saturday after storing it for more than a week. US President Joe Biden and European leaders have increased pressure to agree to a secret burial of Mr Putin, his toughest critic, as they blame the Russian ruler for Navalny's death. She accused him of trying.
Western officials said his death was preceded by talks that could see Russian dissidents released in a prisoner swap with the United States or Germany.
Navalny, 47, died after falling ill at a maximum-security prison camp where he was serving a 19-year sentence on extremist charges, prison officials said. DM