U.S. Treasury Secretary Speaks Out: Seizing Russian Central Bank Assets "Illegal"


2022-05-19: [Article Link The latest developments in the conflict in Russia-Ukraine continue to be followed. United States Treasury Secretary Yellen said that the United States had no legal right to seize the assets of the Russian Central Bank that had been frozen as a result of the Russian-Ukraine conflict, in front of Germany's meeting of G-7 finance ministers, 18 local time, and that the United States Government now wanted to seize those assets “unlawful”. With regard to the conflict between Russia and Russia, the Russian side claims that 959 people have surrendered from the quick steel plant, but neither of the Russians is clear on the exact number of people in the quick steel plant. On 19 April, in Maliubor, Ukraine, local residents walked by the damaged building. Xinhua Social Development (Victo) Ministry of Defence of Russia: 959 out of the quick steel factory. The Russian Ministry of Defence issued information on 18 June that Ukrainian military personnel and armed members of the Azov battalion, surrounded by the Ukrainian steel factory in Maliubor, were still moving out and surrendering, and that a total of 694 persons had surrendered in the past day and night, of whom 29 had been wounded. Russian Presidential Press Secretary Peskov stated on 18 that Ukrainian armed elements could only be considered to have laid down their arms and surrendered from the steel factory in Maliupol. He stressed that the surrender of the armed men had little to do with the negotiation process in Russia, where the Russian side believed that the Ugandan side was not willing to continue the negotiations at the present time. The Ministry of Defence of Ukraine issued a statement on 17 January stating that the wounded members of the U.S. Army had completed their evacuation. In addition, the commander of the Donetsk armed Eastern Battalion stated that a total of 785 military garrisons of the Azov steel plant had surrendered on 18 days through the Eastern Battalion's sector. On the same day, the regional leader of Donetsk (Donetsk), Pushlin, stated that more than 1,000 Ukrainian soldiers, including commanders of Camp Azov and high-ranking combatants, were still in the quick steel factory. However, neither Russian-Ukraine official has given any clear information on the exact number of people currently remaining in the quick steel plant. On 18, the Russian Ministry of Defence claimed to have hit a U.S.-made M777 howitzer, while the Ukrainian side claimed that the Luhansk area had been subjected to large-scale shelling by Russian forces. In addition, on 18 local time, the President of Ukraine, Zelensky, signed a presidential decree extending the state of war and general mobilization for 90 days from 5.30 p.m. on 25 May. US Secretary of State: "Unlawful" seizure of frozen assets of the Central Bank of Russia Some European officials argue that the European Union, the United States and other allies seize some $300 billion in foreign currency assets of the Russian Central Bank that have been frozen as a result of sanctions. These assets are held abroad, but still owned by Russia. In response to that assertion, United States Treasury Secretary Ellen stated that “although we are beginning to consider this, the Government's seizure of these (assets) is now unlawful in the United States.” She added that “this is not permitted under United States law”. Aaron told reporters that the US is negotiating with its partners on how to get Russia to pay for Ukraine’s post-war reconstruction. “I think it is natural that, given Ukraine’s enormous destruction and the huge reconstruction costs they will face, we hope that Russia will help to cover at least some of the associated costs. As a result, on 9 May, the British Financial Times quoted Josep Borelli, EU High Representative for Foreign Affairs and Security Policy, as saying that the European Union might use frozen Russian foreign-exchange assets for the reconstruction of Ukraine. Some experts warned that the West treated frozen Russian assets in such a way that they were suspected of violating the law. Croatia plans to prevent Finland and Sweden from “accession” According to external sources quoted by the Global Network, on 18 local time, the President of Croatia, Zoran Milanovic, stated at a press conference that he planned to instruct his country's Permanent Representative to NATO, Mario Nobilo, to prevent Finland and Sweden from joining NATO. As early as 26 April, Milanovic stated that the application of Finland and Sweden to join NATO was tantamount to enraged Russia and a “very dangerous venture” that would be stopped. The Finnish and Swedish ambassadors to NATO submitted their applications for NATO membership to NATO Secretary-General Stoltenberg at a ceremony held at NATO headquarters in Brussels on 18 January. After accepting the application, Stoltenberg said that NATO would assess the application as soon as possible and consider the next steps on the road between the two countries to NATO. By protocol, NATO must “consensually agree” on the part of its 30 member states to include new members. In recent times, NATO member Turkey has repeatedly stressed the need for Finland and Sweden to cease their support for the PKK, among others, when seeking membership in NATO, and to lift restrictions on the export of defence equipment to the soil. Coca-Cola is suspended from Russian business. The Russian company has launched a "high copy" of the Coke. On 16 May, the Moscow Times reported that Russian beverages producer Ochakovo had announced three drinks entitled “CoolCola”, “Fancy” and “Street”, respectively, to replace Coca Cola, Fanta and Sprite, produced by Coca-Cola. Image by Ochakovo Network of Officials Since the suspension of Coca-Cola operations in Russia in March, these three global brands of beverages have hardly appeared on Russian shelves. The Moscow Times reports that, while some Coca-Cola products can still be found in shops, their prices have soared by about 200 per cent since March. Ochakovo wrote on the official web page that “CoolCola” has a “colour-marked taste.” At the same time, the packaging of “Fancy” and “Street” imitates the colour formulas of Fanta and Spaghetti. Ochakovo was founded in 1978 during the Soviet period and mainly produces traditional Russian beverages, such as fermented cereals, Gwas and medovukha. On 18 May, Coca-Cola stock prices fell by 6.96 per cent, the largest fall since June 2020. However, the United States stock as a whole fell sharply on that day, and consumer-type stocks fell even more sharply. Another well-known producer of carbonate beverages, Pepsi, also announced that the sale of Pepsi, Quest and Midday beverage beverages in Russia would be suspended and the related advertising activities discontinued, but that the sale of baby foods, snacks, juices and dairy products would continue.


Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.



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U.S. Treasury Secretary Speaks Out: Seizing Russian Central Bank Assets "Illegal"


2022-05-19: [Article Link The latest developments in the conflict in Russia-Ukraine continue to be followed. United States Treasury Secretary Yellen said that the United States had no legal right to seize the assets of the Russian Central Bank that had been frozen as a result of the Russian-Ukraine conflict, in front of Germany's meeting of G-7 finance ministers, 18 local time, and that the United States Government now wanted to seize those assets “unlawful”. With regard to the conflict between Russia and Russia, the Russian side claims that 959 people have surrendered from the quick steel plant, but neither of the Russians is clear on the exact number of people in the quick steel plant. On 19 April, in Maliubor, Ukraine, local residents walked by the damaged building. Xinhua Social Development (Victo) Ministry of Defence of Russia: 959 out of the quick steel factory. The Russian Ministry of Defence issued information on 18 June that Ukrainian military personnel and armed members of the Azov battalion, surrounded by the Ukrainian steel factory in Maliubor, were still moving out and surrendering, and that a total of 694 persons had surrendered in the past day and night, of whom 29 had been wounded. Russian Presidential Press Secretary Peskov stated on 18 that Ukrainian armed elements could only be considered to have laid down their arms and surrendered from the steel factory in Maliupol. He stressed that the surrender of the armed men had little to do with the negotiation process in Russia, where the Russian side believed that the Ugandan side was not willing to continue the negotiations at the present time. The Ministry of Defence of Ukraine issued a statement on 17 January stating that the wounded members of the U.S. Army had completed their evacuation. In addition, the commander of the Donetsk armed Eastern Battalion stated that a total of 785 military garrisons of the Azov steel plant had surrendered on 18 days through the Eastern Battalion's sector. On the same day, the regional leader of Donetsk (Donetsk), Pushlin, stated that more than 1,000 Ukrainian soldiers, including commanders of Camp Azov and high-ranking combatants, were still in the quick steel factory. However, neither Russian-Ukraine official has given any clear information on the exact number of people currently remaining in the quick steel plant. On 18, the Russian Ministry of Defence claimed to have hit a U.S.-made M777 howitzer, while the Ukrainian side claimed that the Luhansk area had been subjected to large-scale shelling by Russian forces. In addition, on 18 local time, the President of Ukraine, Zelensky, signed a presidential decree extending the state of war and general mobilization for 90 days from 5.30 p.m. on 25 May. US Secretary of State: "Unlawful" seizure of frozen assets of the Central Bank of Russia Some European officials argue that the European Union, the United States and other allies seize some $300 billion in foreign currency assets of the Russian Central Bank that have been frozen as a result of sanctions. These assets are held abroad, but still owned by Russia. In response to that assertion, United States Treasury Secretary Ellen stated that “although we are beginning to consider this, the Government's seizure of these (assets) is now unlawful in the United States.” She added that “this is not permitted under United States law”. Aaron told reporters that the US is negotiating with its partners on how to get Russia to pay for Ukraine’s post-war reconstruction. “I think it is natural that, given Ukraine’s enormous destruction and the huge reconstruction costs they will face, we hope that Russia will help to cover at least some of the associated costs. As a result, on 9 May, the British Financial Times quoted Josep Borelli, EU High Representative for Foreign Affairs and Security Policy, as saying that the European Union might use frozen Russian foreign-exchange assets for the reconstruction of Ukraine. Some experts warned that the West treated frozen Russian assets in such a way that they were suspected of violating the law. Croatia plans to prevent Finland and Sweden from “accession” According to external sources quoted by the Global Network, on 18 local time, the President of Croatia, Zoran Milanovic, stated at a press conference that he planned to instruct his country's Permanent Representative to NATO, Mario Nobilo, to prevent Finland and Sweden from joining NATO. As early as 26 April, Milanovic stated that the application of Finland and Sweden to join NATO was tantamount to enraged Russia and a “very dangerous venture” that would be stopped. The Finnish and Swedish ambassadors to NATO submitted their applications for NATO membership to NATO Secretary-General Stoltenberg at a ceremony held at NATO headquarters in Brussels on 18 January. After accepting the application, Stoltenberg said that NATO would assess the application as soon as possible and consider the next steps on the road between the two countries to NATO. By protocol, NATO must “consensually agree” on the part of its 30 member states to include new members. In recent times, NATO member Turkey has repeatedly stressed the need for Finland and Sweden to cease their support for the PKK, among others, when seeking membership in NATO, and to lift restrictions on the export of defence equipment to the soil. Coca-Cola is suspended from Russian business. The Russian company has launched a "high copy" of the Coke. On 16 May, the Moscow Times reported that Russian beverages producer Ochakovo had announced three drinks entitled “CoolCola”, “Fancy” and “Street”, respectively, to replace Coca Cola, Fanta and Sprite, produced by Coca-Cola. Image by Ochakovo Network of Officials Since the suspension of Coca-Cola operations in Russia in March, these three global brands of beverages have hardly appeared on Russian shelves. The Moscow Times reports that, while some Coca-Cola products can still be found in shops, their prices have soared by about 200 per cent since March. Ochakovo wrote on the official web page that “CoolCola” has a “colour-marked taste.” At the same time, the packaging of “Fancy” and “Street” imitates the colour formulas of Fanta and Spaghetti. Ochakovo was founded in 1978 during the Soviet period and mainly produces traditional Russian beverages, such as fermented cereals, Gwas and medovukha. On 18 May, Coca-Cola stock prices fell by 6.96 per cent, the largest fall since June 2020. However, the United States stock as a whole fell sharply on that day, and consumer-type stocks fell even more sharply. Another well-known producer of carbonate beverages, Pepsi, also announced that the sale of Pepsi, Quest and Midday beverage beverages in Russia would be suspended and the related advertising activities discontinued, but that the sale of baby foods, snacks, juices and dairy products would continue.

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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