Myers: Yellen urges G7 to seize profits from frozen Russian assets and redirect them to Ukraine

(1) Brazil, India, Mexico, Indonesia & UAE declined to participate in financial war against Russia
(2) G20 refuses Ukraine agenda
(3) Yellen urges G7 to seize profits from frozen Russian assets and redirect them to Ukraine
(4) US toppled Imran Khan because he refused to support NATO and condemn Russia

(1) Brazil, India, Mexico, Indonesia & UAE declined to participate in financial war against Russia

https://www.economist.com/finance-and-economics/2024/02/21/russia-outsmarts-western-sanctions-and-china-is-paying-attention

Finance and economics | Gaps in the fence

Russia outsmarts Western sanctions—and China is paying attention
How the rise of middle powers helps America’s enemies

Feb 21st 2024

[…] The West’s campaign to reassert its dominance over the global financial system could see it lose control, once and for all.

(2) G20 refuses Ukraine agenda

https://www.unz.com/pescobar/two-years-after-the-start-of-the-smo-the-west-is-totally-paralyzed/

Two Years After the Start of the SMO, the West Is Totally Paralyzed

PEPE ESCOBAR

FEBRUARY 24, 2024

[…] the collective West at the G20 tried by all means to “Ukrainize” the agenda – with less than zero success. They were outnumbered and counterpunched by BRICS and Global South members.

(3) Yellen urges G7 to seize profits from frozen Russian assets and redirect them to Ukraine

https://www.ibtimes.com/urgent-g7-seize-russian-profits-ukraine-yellen-3725699

‘Urgent’ For G7 To Seize Russian Profits For Ukraine: Yellen

By Joshua Howat Berger
02/27/24 AT 10:36 AM EST

US Treasury Secretary Janet Yellen said Tuesday it was urgent for G7 nations to jointly seize profits from frozen Russian assets and redirect them to Ukraine, as the group prepared to meet on the issue. …

Ukraine has warned it desperately needs more military and financial assistance, as a fresh $60 billion US package remains stalled in Congress.

That has cast a spotlight on the estimated $397 billion in Russian assets frozen by the West, ranging from central bank assets to yachts, real estate and other property from oligarchs close to President Vladimir Putin.

But there are risks involved, including likely Russian legal action and the potential for scaring other countries, such as China, into reducing their own investments in the West, fearing similar action.

Yellen said a risk to financial stability would arise “if there were a massive shift away from currencies” of Western countries in response to seizing Russian funds. But she said the risk was minimal if the G7 acted together.

… roughly 500 billion euros or more needed for Ukraine’s reconstruction.

(4) US toppled Imran Khan because he refused to support NATO and condemn Russia

https://www.jeffsachs.org/newspaper-articles/a8dt7m63khdptc8hw6c8xej2yxwaz5

The US Toppling of Imran Khan

Common Dreams
February 1, 2024

[…] Imran Khan’s “sin” was to be too cooperative with Russian President Vladimir Putin and Chinese President Xi Jinping, while also seeking normal relations with the United States. …

[…] Khan probably sealed his fate on March 6 when he held a large rally in northern Pakistan. At the rally, he berated the West, and especially 22 EU ambassadors, for pressuring him to condemn Russia at a vote in the United Nations. He also excoriated NATO’s war against terror in next-door Afghanistan as having been utterly devastating to Pakistan, with no acknowledgment, respect, or appreciation for Pakistan’s suffering.