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Shop NowG7 leaders, including Joe Biden, handed $50 billion of Russia’s money to Ukraine on Wednesday. They’re calling it a loan but nobody really expects to get a penny of it back. It was Russia’s money to start with, so they can offset it against reparations when the war is over. It’s a win-win for everyone except the Russians.
Ukraine gets Russia’s money
Joe Biden is thrilled that he can appear to be doing something positive for Ukraine. He didn’t get lost and nobody is reporting any major gaffes, so the G7 meeting went well.
He was able to hand over $20 billion bucks as our contribution to the cause without spending a taxpayer dime or begging Congress for it. Kamala Harris wouldn’t be able to pull off something that slick in a million years.
The way Joe’s handlers explain the deal, the “Group of Seven” nations “will offer Ukraine a $50bn loan backed by interests accrued on Russian government assets frozen by the political and economic group.” Our end is $20 billion of the loan.
Uncle Sam is covering nearly half, with the other six nations splitting the rest. The “Russian sovereign assets” we already “immobilized” generate more than enough interest to cover it.
To Ukraine, the money is a “gift.” They can use it any way they want but it’s supposed to go for war expenses. G7 is the one who took out the loan.
They tapped the world bank for 50 billion in credit and are using the interest they make from banking Russia’s money to pay the monthly payments. That means Russia is actually taking out a loan, against their will, to pay for their enemy’s military defense. That’s a good one.
Assistance it needs now
Ukraine, Joe read from the teleprompter, “can receive the assistance it needs now, without burdening taxpayers.” Congress already handed over as much as they were willing to part with. The money will support “the people,” he insists, “as they defend and rebuild their country.”
It’s only fair to send Russia the bill for the mess they made. “Tyrants will be responsible for the damages they cause,” his handlers wrote.
The same nations which shirk their dues contributions to NATO conned Biden into doing the heavy lifting, once again. Canada, France, Germany, Italy, Japan and the United Kingdom aren’t third-world bleep-hole countries.
It would be a whole lot better if each of them chipped in $7.14 Billion to help Ukraine but the G7 has a bunch of deadbeat members.
The U.S. cut off “Moscow’s access to its own funds in their financial system” following the 2022 invasion. All the G7 nations “imposed heavy sanctions.” The other six aren’t willing to divert the interest payments they’re pulling in to help out Ukraine.
Charity begins at home, Justin Trudeau and his pals insist. Putin wants every penny of his money back. “Russia has rejected efforts to confiscate its assets.” That’s “21st-century piracy,” Vlad points out. He may have to invade America next.
