Taxes and gold: expert explains where Russia is looking for money for the war against Ukraine

Political expert and serviceman Oleksandr Musiienko stated that due to a lack of funds for the war, Russia is already raising taxes and burning through its gold reserves, so frozen assets have come into focus, Politeka reports.
He spoke about this on his blog.

“The European Central Bank refused to support the payment of €140 billion to Ukraine secured by Russian assets blocked in the Belgian depository Euroclear. The ECB concluded that the European Commission’s proposal violates its mandate. And unfortunately, this is a problem because it creates obstacles for us. And 2026 is approaching — we need the funds,” Oleksandr Musiienko notes.

President Zelensky, the expert says, stated that there will be no simple solutions to end the war, and the most sensitive issues are territory and Russia’s frozen assets. By the way, he points out, it is not only the President of Ukraine who talks about frozen Russian assets — many Western media outlets do as well, including the American TV channel ABC News.

“This issue greatly worries Russia. Why? Moscow is running out of money; they have started burning through their gold reserves. That is, they have begun selling off the gold they accumulated for many years much more actively. Now they’ve started dumping it because the Russian National Wealth Fund is running out of money allocated for the war. And that money had been calculated for a short-term war against Ukraine with different outcomes and fewer sanctions. And now the gold is being burned through — these are facts. This is reported by the Foreign Intelligence Service of Ukraine. How will they finance the war further?” Oleksandr Musiienko explains.

In addition, the expert adds, Rosneft’s revenues have fallen by 70%, and Ukraine is striking Russia’s shadow fleet in the Black Sea, so things are not going well for Russia — they even had to raise taxes. Therefore, he concludes, the Kremlin is very interested in the fate of the frozen assets, trying to prevent them from going to Ukraine — which, in fact, would be fair.

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