Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

..."What Washington is proposing is, 'We [the U.S.] take a loan, Europe takes all the risk, you [Europe] pay the interest, and we [the U.S.] use the money for a U.S.-Ukraine fund,'" said one senior European diplomat.
(proof marks in original - ed)
Governments are in a race against time, not just because Ukraine desperately needs the money, but because there's no certainty that a Donald Trump presidency would back the initiative. A final agreement will now be delayed until at least the fall, according to three officials.
EU-US Treasury bonds?
To front-load that aid, Washington suggested taking on a $50 billion loan for Ukraine < wipes tears>, which would be paid back each year with the profits generated by immobilized Russian assets.
WWIII Marshall Plan for yerp?
"If it was the other way around, they would say we are crazy," said an EU official about the U.S. proposal.
"The EU can be naïve, but this goes too far," said an EU diplomat. "This would benefit mostly American companies, so we have to discuss the conditions more in detail." Officials are now discussing whether to issue the loan through the World Bank or an ad hoc instrument, with the officials saying the EU wanted to negotiate the exact conditions to avoid their companies being left out of profitable Ukrainian contracts....
yahoo! afp | G7 to agree $50-bn Ukraine loan at Italy summit, 13 June
"We are on the verge of a good outcome here," US National Security Advisor Jake Sssullivan said Thursday, adding that the details still needed to be thrashed out.
archive REPO Act "Ukraine Support Fund", the keepers of global values
by Cat on Thu Jun 13th, 2024 at 12:21:40 PM EST
[ Parent ]
whitehouse.gov | Press Briefing by Press Secretary Karine Jean-Pierre and National Security Communications Advisor John Kirby (17.06.24)
Q  Can you explain why you just called it a, quote, unquote, "loan"?
KIRBY: Because it's not as if—because if you're using the windfall profits, it's not as if Ukraine is going to have to pay those back. It's going to—you're going to continue to be able to source that through—through the frozen assets and the—the windfall profits from those assets.
by Cat on Thu Jun 20th, 2024 at 08:17:59 PM EST
[ Parent ]
Alex C.: "My bad. I said, the EU has devised a legal loophole, not just a loop hole. It's a legal loophole. That's important. The EU's going to legally steal the frozen assets of Russia, and use the profits. They're going to legally steal the profits from the frozen assets Russia and legally use the theft of the profits from the frozen assets to purchase weapons which they will then legally send to Ukraine. Do I have that right? I had to work that out in my head—the process, the legal process that the EU has devised."
ft | EU devises legal loophole to bypass Hungary veto on support for Ukraine (24.06.24)
EU chief diplomat Josep Borrell told the Financial Times that since Hungary abstained from an earlier agreement to set aside the proceeds from Russia's frozen assets, it "should not be part of the decision to use this money". Concerns from the US and other G7 partners over Hungary likely blocking an EU decision to keep the Russian assets immobilised indefinitely caused significant delays in the negotiation over the $50bn loan. The legal workaround for the EU use of proceeds is likely to suffice in guaranteeing the payout of the loan, according to officials familiar with the matter.
Cat: Almost. The Daleep Singh School of Workaround Loopholes sez: Income legally owed to frozen Russian assets owners are not sovereign profits. They are legally EU and US "windfall profits". EU and US legally can use 90% of windfall profits to procure weapons and 10% for dual-use goods from EU and US for Ukraine. Sovereign assets of Russia, legally frozen by EU and US, are legally not windfall profits. So, EU and US will legally proffer those legally frozen assets legally entitled to income for collateral to guarantee a $50B loan for Ukraine from EU and US lenders. Hungary legally is not one of Ukraine's lenders. Hungary refused windfall profits distribution. Hungary legally withheld its veto in EUCO proceedings to approve windfall profits and EU CDO for Ukraine but has not legally waived its veto power to cancel future EU windfall profits distributions, legally.

Malign disinfogator | Belgium warns against seizing Russian money, 22 June

"First of all, for our country there are two elements that are important: we did not touch the assets themselves, as the ownership title change would yield consequences both on the legal side and financial side that are unknown," FinMin Vincent Van Peteghem said [@ 13:39] during a press conference after the bloc's ECOFIN meeting in Luxembourg. "And second, of course, risk sharing, that I think is important in the rollout of the instruments and is a crucial element of all discussion," the minister added.
archive 21 May 2024 price cap mania exit plan
by Cat on Thu Jun 27th, 2024 at 12:41:46 PM EST
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