TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

Biden plants a whooping $300bn landmine for EU

TFIGLOBAL News Desk by TFIGLOBAL News Desk
January 15, 2025
in Geopolitics
Biden plants a whooping $300bn landmine for EU
Share on FacebookShare on X

It seems that not a day goes by when the Joe Biden administration is not caught up in some kind of a disaster move. Now it has come to light that Joe Biden wants to steal 300bn$ from Russia in the last week of his administration days. The short-sighted Biden is seemingly oblivious about the grave consequences of this move, not just with regards to Russia but also the entire developing world, including India and China.

As per a report by the CNN, Washington is pushing the European Union (EU) to seize Russian assets frozen within the bloc before President Joe Biden leaves office within days. Since the Ukraine war began three years ago, the US and its allies froze around $300 billion of Russian government funds, held mainly in the Euroclear system based in Brussels.

Also Read

UK pushes military presence in the Arctic provokes Russia

Germany deploys 40,000 soldiers near Russia’s borders, NATO prepares its flanks

NATO Chief Rutte: Alliance Members Progressing Toward 5% Defence Spending Goal

However, the EU has shied away from confiscating these funds outright. Officials worry that such a move could damage the EU’s global reputation and provoke economic retaliation from Russia. The Kremlin has strongly opposed the freezing of its funds, calling it “illegal.” Moscow has warned that if the assets are confiscated, it will treat the act as theft and retaliate by targeting over $300 billion worth of Western assets in Russia.

Now, as per CNN, the administration of Joe Biden is making a final push to get the EU to move the funds into a special escrow account. The idea is that this account could be used as leverage during peace talks with Russia. A senior US official said, “If Russia wants the money back, they’ll have to come and negotiate.”

Biden’s team claims the strategy has some support among officials chosen by Donald Trump, who will take office on January 20. However, EU governments remain doubtful. They fear confiscating the money could break international laws, making the proposal unlikely to succeed.

The US has been arguing for this plan for over a year. In May, Daleep Singh, a key architect of US sanctions, said freezing Russian assets was already a big step but acknowledged that full confiscation crossed a “red line” for many countries. Biden had planned to discuss the issue during a meeting in Rome with Ukraine’s Zelensky and Italy’s Meloni. However, he canceled the trip due to wildfires in Los Angeles.

Meanwhile Zelensky, in a recent podcast interview, insisted Ukraine should get all the frozen funds. He said the money could support Ukraine’s domestic production and purchase more weapons from the US.
Russian officials quickly blasted Zelensky’s comments. Foreign Ministry spokeswoman Maria Zakharova called his remarks “nonsense” and accused him of promoting extremist views.

Confiscating those assets owned by Russia will erode the confidence of developing world on the West-backed financial system. There is a reason why BRICS nations, including giants like Russia, China and India, are mulling creating a currency of their own and even a parallel financial system, that is free of any Western interference. Today, each and every developing country has stakes and investments in EU and the US. These nations are reasonably worried that their own investments might someday be hijacked by the Western governments and would be used as a bargaining chip.

The way the West has treated Russian assets over the past three years has actually set a warning bell ringing among the global south. That’s the reason why dozens of countries today are lining up to join the BRICS forum. The US and EU may hijack and steal $300 billion worth of Russian assets, but it will end up eroding the world’s confidence in these nations forever and it will also force fence-sitters to look for alternate options. With the Donald Trump inauguration only days away it seems Joe Biden is bent on completely sabotaging Russia’s ties with the west before Trump takes office.

Tags: BidenBiden-TrumpBRICSChinaDonald TrumpEUIndiaJoe BidenRussia
ShareTweetSend
TFIGLOBAL News Desk

TFIGLOBAL News Desk

Right Arm. Round the World. Fast.

Also Read

UK pushes military presence in the Arctic provokes Russia

UK pushes military presence in the Arctic provokes Russia

May 29, 2025
Germany deploys 40,000 soldiers near Russia’s borders, NATO prepares its flanks

Germany deploys 40,000 soldiers near Russia’s borders, NATO prepares its flanks

May 29, 2025
U.S. government will work to “aggressively revoke” visas of Chinese students-Marco Rubio

U.S. government will work to “aggressively revoke” visas of Chinese students-Marco Rubio

May 29, 2025
Andrew and Tristan Tate in major legal trouble again as they face 21 charges in the UK including rape and trafficking

Andrew and Tristan Tate in major legal trouble again as they face 21 charges in the UK including rape and trafficking

May 29, 2025
Romania’s Calin Georgescu quits politics after controversial elections

Romania’s Calin Georgescu quits politics after controversial elections

May 28, 2025
Russia enraged with West’s missile escalation, claims “Europe once again gathering under the Nazi flag”

Russia enraged with West’s missile escalation, claims “Europe once again gathering under the Nazi flag”

May 28, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.