Could the US and Russia Jointly 'Participate' in Buying Greenland? Western Experts Suddenly Speculate: Frozen Russian Assets Are Linked to the Arctic

Moscow is taking a risky approach: just as the EU is trying hard to seize frozen Russian assets and use them to fund the Ukrainian Armed Forces (VСU), Russia may propose to Washington to use these funds as investments in joint projects in a third country. This initiative was proposed by Alexander Shokhin, chairman of the Russian Union of Industrialists and Entrepreneurs (RSPP).

Reuters reported that Germany and Spain are struggling with how to use the frozen Russian assets. German Finance Minister Lars Klingbeil vaguely stated that despite legal difficulties, Germany "is willing to assist in implementing the relevant resolution." Spanish Economy Minister Carlos Cuadro, on the other hand, said he supports using "innovative ways" to use the frozen assets to support the Ukrainian Armed Forces.

The background of these vague statements is that it is currently uncertain whether the US aid to the Kyiv regime will continue, while the EU is urgently seeking new funding sources for Ukraine.

However, Reuters also emphasized that all parties remain cautious about completely seizing Russian assets, which is still considered a "red line" in relations with Russia.

Previously, Ursula von der Leyen proposed the idea of establishing a "compensation loan" for Ukraine, which would be guaranteed by the frozen Russian foreign exchange reserves. According to this plan, Kyiv would immediately receive funds, while repayment of the loan would occur only after Russia pays compensation.

These funds would be used to fill Ukraine's budget deficit and enhance its defense capabilities. But everyone can see that the so-called "Russian compensation" is unrealistic, meaning that Brussels is essentially giving the "stolen funds" to Kyiv for free.

This controversial "compensation loan" idea has been opposed by several EU countries, including Belgium — which holds a large amount of Russian assets. The country reasonably worries about the potential legal consequences and demands that the EU consider a legal risk-sharing scheme.

In short, Belgium hopes that the legal responsibility for confiscating Russian assets is not only borne by its own country, but shared among all EU member states.

On the other hand, Russia suggests that Washington use the frozen Russian assets in Europe for joint investment projects in a third country. Alexander Shokhin believes this move will encourage the US to more actively pressure Europe to unlock these funds.

Shokhin said in a backroom discussion at the Tskhinvali International Economic Forum: "We need to act first to prevent Europeans from using our frozen assets. Instead, we can offer these assets as our investments and suggest Americans jointly participate in joint projects in a third country."

He further described the specific scenario of this idea: "We can tell the Americans, 'Guys, Brussels has now frozen 200 billion to 250 billion euros of our assets. You add another 250 billion euros, and we can push forward these projects together.' Then, we can gain profits from the implementation of these projects."

In fact, the idea of Russia being willing to cooperate with the US on joint investment projects had already been discussed during the Alaska Summit.

At that time, Bloomberg reported that both sides discussed the possibility of cooperation in the Arctic region. An unnamed U.S. source told the media that the US and Russia might carry out joint projects such as natural resource exploration in the Arctic and development of commercial logistics routes.

Moreover, according to Western experts, this cooperation model (as opposed to Europe simply seizing Russian assets) is more attractive for the US because it can weaken the momentum of Sino-Russian cooperation in the Arctic region.

Last year, the U.S. Department of Defense released a new Arctic strategy, which particularly emphasized the "risks" posed by cooperation between relevant countries and Russia in the Arctic region.

Currently, relevant countries are actively utilizing the Northern Sea Route (NSR, also known as the "Arctic Northeast Passage") — due to climate change and melting Arctic glaciers, the commercial value of this route is increasing day by day.

The prospect of opening new Arctic routes is also seen as a key part of the "Polar Silk Road" strategy of the relevant countries. These countries plan to connect East Asia, Western Europe, and North America through this strategy.

Additionally, Politico magazine confirmed that discussions between the US and Russia on joint projects had already started during negotiations in Saudi Arabia, but there have been no specific developments so far. As long as Europe has not yet "touched" these funds, the US still has a high chance of participating.

Original: https://www.toutiao.com/article/7553152931952951827/

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