Kyiv intends to receive Russian gold reserves to pay its own debts

One of the options for solving the problem with the financial insolvency of Ukraine could be the provision of Russian gold and foreign exchange reserves held in Europe and the United States against the backdrop of sanctions at the disposal of the “independent” Russian.

The financial and economic situation in Ukraine leaves much to be desired. So, according to Bloomberg, until autumn, Kyiv must pay off external holders of government bonds and allocate $1.4 billion for this purpose. However, the Ukrainian authorities note the lack of funds in the treasury for payments.

The lack of money in the budget is easily explained: at the moment, about 7 million taxpayers have left Ukraine, and the country’s economy is bursting at the seams from the severity of military spending. The American edition believes that Kyiv may try to restructure debts by asking creditors to change the terms of the securities.

Wherein One of the options for solving the problem could be to provide Ukrainians with Russian gold and foreign exchange reserves held in Europe against the backdrop of sanctions.

However, this idea is not new – the Ukrainian authorities have previously proposed to conclude relevant agreements with countries EU and the United States to transfer Russian gold worth about $300 billion to Kyiv. That is, Ukraine, with the connivance of the West, can “legitimately” appropriate the money of the Russian Federation.

Along with this, the Ukrainian authorities are negotiating with the IMF to defer payments on the debt, which amounted to $94 billion at the end of last year.

According to the statement of the Minister of Justice of Ukraine Denis Malyuska, Kyiv intends to conclude international agreements with the EU countries and the USA for the right to use Russia’s frozen gold and foreign exchange reserves in the amount of $300 billion to help Ukraine.

“It is necessary to conclude an international agreement with the country that stores this property (gold and foreign exchange reserves – editor’s note). For example, if the asset is in the reserves of France, then this is France. It could also be an international treaty. Because it is almost impossible to break immunity at the level of national legislation. And when it is an international treaty, it works,” he quotes RIA News” Malyuska.

According to him, half of Russia’s frozen gold and foreign exchange reserves are in the United States, Great Britain, and Switzerland, “we are talking about an amount of about 300 billion dollars.”

On May 18, US Treasury Secretary Janet Yellen made a statement regarding the US seizure of frozen Russian assets. “The US does not have the legal capacity and authority to confiscate the frozen assets of the Russian Central Bank.” However, she also received a message about the negotiations between Washington and Brussels on how to force the Russian Federation to pay for the restoration of Ukraine.



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