The Chinese Communist Party (CCP), seeking to insulate the country’s top brass from Western sanctions like those imposed on Russia over the Ukraine conflict, has allegedly issued a directive discouraging senior officials from buying assets abroad. The new policy will block promotions for CCP elites who have significant overseas holdings, the …
Read More »India looks to scoop up divested Western assets in Russia – media
India’s Oil and Natural Gas Corporation (ONGC) is considering purchasing additional stakes in Russian oil and gas fields from Western firms that plan to leave the country, the Economic Times (ET) reported on Thursday, citing people familiar with the matter. The move comes even as the Indian company’s first bid …
Read More »Seizing Russian assets to rebuild Ukraine illegal – US
US Treasury Secretary Janet Yellen said on Wednesday that it would not be legal for the United States to seize frozen Russian central bank assets to help rebuild Ukraine. Yellen was referring to an estimated $300 billion in assets from Russia’s central bank that have been blocked by the United …
Read More »Switzerland releases some frozen Russian assets
The Swiss government on Thursday reported that 6.3 billion Swiss francs ($6.33 billion) worth of Russian assets have been frozen under the country’s sanctions. The report said the figure indicates a decrease from the roughly 7.5 billion Swiss francs (over $7 billion) in funds the government reported frozen on April …
Read More »‘Theft’ of foreign assets becoming ‘habit’ for West – Lavrov
Seizing Russia’s foreign-exchange reserves would be nothing short of “theft,” Russian Foreign Minister Sergey Lavrov said on Tuesday. Such an idea was recently floated by the EU’s top diplomat, Josep Borrell. “It seems fair to say that this is a theft they [the Western nations] do not even try to …
Read More »Top EU diplomat wants to see frozen Russian assets seized
EU foreign policy chief Josep Borrell, citing the precedent with the Afghan central bank’s assets worth billions, suggested seizing frozen Russian foreign exchange reserves and using them to cover the costs of rebuilding Ukraine once the military conflict is over. In an interview with FT published on Monday, Borrell said …
Read More »EU calls for confiscation of frozen Russian assets
Russian assets that have been frozen in the EU as part of sanctions against Moscow over the conflict with Kiev should be seized and allocated for the reconstruction of Ukraine, European Council President Charles Michel said on Thursday. “I’m absolutely convinced that this is extremely important not only to freeze …
Read More »Poland seizes Russian gas assets
Warsaw has obliged the Polish subsidiary of the Russian energy giant Novatek to transfer its gas infrastructure to the nation’s state companies, Government Spokesperson Piotr Müller said on Friday. Novatek, which is on Poland’s sanctions list, on Thursday stopped gas supplies to some of the country’s regions. “Today Prime Minister …
Read More »India looks to scoop up offloaded Western assets in Russia – media
India has asked state-run energy companies to evaluate the possibility of acquiring oil major BP’s stake in sanctions-hit Russian firm Rosneft, sources told Reuters on Thursday. BP had earlier announced it was abandoning its 19.75% stake in the Russian company. Sources familiar with the matter said that the Indian oil …
Read More »Biden to ask Congress for new powers to seize Russian assets
US President Joe Biden will officially ask Congress later on Thursday to grant him the authority to seize the assets of wealthy individuals believed to have links to the Kremlin and use them to help Ukraine, the White House has revealed in a statement. Biden is expected to propose a …
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