HEADLINE: EU Schemes to Fund Ukraine with Frozen Russian Assets, While Oil Prices Fluctuate GUEST NAME: Michael Bernstam SUMMARY: The EU devises a "clever scheme" to fund Ukraine with Russia's frozen assets by converting cash into zero-interest bonds hel
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 18 September 2025
⏱️ 9 minutes
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Summary
HEADLINE: EU Schemes to Fund Ukraine with Frozen Russian Assets, While Oil Prices Fluctuate
GUEST NAME: Michael Bernstam
SUMMARY: The EU devises a "clever scheme" to fund Ukraine with Russia's frozen assets by converting cash into zero-interest bonds held by Euroclear, effectively confiscating the funds while navigating legal obstacles, as global oil markets remain volatile. The EU and G7 plan to use $170 billion of frozen Russian assets, largely held by Euroclear in Belgium, to fund Ukraine. This "confiscation" involves the European Union issuing zero-interest bonds to Euroclear, allowing cash to be transferred to Ukraine as an unpayable loan. Meanwhile, Brent crude oil prices fluctuate, influenced by sanctions and Trump's calls to stop buying Russian oil.
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| 0:24.0 | This is CBS, I on the World. I'm John Batchel. Watching Russia in wartime, the sanctions |
| 0:30.2 | thrown at Russia since 22 and what is to be done with all of those sanctions in place and Russia continues to fight. |
| 0:39.4 | Well, Ukraine needs money. |
| 0:41.7 | And one of the ways to find money for Ukraine is the headline from the Financial Times in these last hours. |
| 0:48.6 | EU explores using 170 billion euros, $200 billion, of Russia's frozen assets to fund Ukraine. |
| 0:57.5 | But there is hesitation. |
| 0:59.6 | Worrying about reparation loans plans makes the G7 and many members of the European Union hesitate. |
| 1:07.9 | Michael Bernstom is here from the Hoover Institution to help us through this maze of what |
| 1:12.6 | is to be done. Keith needs money. There's a lot of frozen assets sitting there and what is to be done. |
| 1:20.2 | Michael, good evening to you. Europe looks to be getting closer to actually putting the work, |
| 1:25.6 | the money to work. Something about bonds that pay no interest. |
| 1:29.4 | How does it work, Michael? Good evening to you. |
| 1:31.7 | Well, evening to you. So the problem is that in February 22, when the war started, |
| 1:38.0 | the G7 and the European Union and other Western countries, |
| 1:41.5 | for also sequestered, about $350 billion was... and other Western countries, pros or sequesters, |
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