Every mainstream news agency was this week reporting that the European Union is using US$1.6 billion from seized Russian assets "to support Ukraine", focusing on "defence and reconstruction". But it's not true.
The small print of actual statement, not quoted by the media, shows that the European Union is taking the entire sum of money, rightfully belonging to the Russian people, for itself.
SELF-PAYMENT FACILITY
Ninety per cent of the cash actually goes to a fund known as the EPF. This technically stands for "European Peace Facility" but the name is the opposite of what it does: it is a weapons financing operation—for EU self-payment.
European countries take money from the EPC when they want reimbursement for arms and ammunition (often not the best quality) they have already sent to Ukraine.
The remaining ten per cent also goes to the European Union, directly to the EU budget. This money is also earmarked for war purposes, providing weapons for Ukraine to use against Russia.
MONEY 'FOR SUPPLY OF WEAPONS'
However, the EU has said that a fraction of the 10 per cent MAY be diverted to reconstruction if countries don’t want "their share" of the Russian cash used for military purposes.
This allows EU leader Ursula von der Leyen to claim that the money is for Ukraine to use for reconstruction when in fact it will be 95 to 100 per cent used for weapons and military expenses.
The details are clearly outlined in the 21 May European Union statement detailing the forthcoming use of the Russian money. Key sentence:
"In 2024, 90% will be devoted to the supply of military equipment through the assistance measures funded under the EPF and 10% for the EU budget."
The statement quotes EU official Věra Jourová: "This initiative not only aids Ukraine in its recovery but also underscores our commitment to upholding international law and justice." Her title is Vice-President for Values and Transparency.
LOSS OF TRUST
The EU move is fraught with danger. The European Union's population is just six per cent of the world, and many other regions and countries across the globe have expressed dismay at the use of the Russians' money in this way. Saudi Arabia, for example, warned that it would sell some or all of its European debt if the move went ahead, Bloomberg reported.
Other analysts have expressed concern that the EU move would gravely reduce trust in the west, and show the rest of the world that de-dollarization must be speeded up.
by Nury Vittachi
Lai See(利是)
** The blog article is the sole responsibility of the author and does not represent the position of our company. **
In a series of blistering statements,The Hong Kong Office for Safeguarding National Security (OSNS) has drawn a red line in the sand for anyone trying to weaponize the city’s recent misfortunes. The message is crystal clear and ominous: If you use disaster to sow chaos in Hong Kong, they will hunt you down—no matter where on Earth you try to hide.
On December 3, an OSNS spokesperson doubled down. While the HKSAR government and local citizens were racing to save lives following the tragedy at Wang Fuk Court in Tai Po, a shadow game was already in play. The office accuses a "small group of external hostile forces" of looting a burning house. Under the guise of petitioning for the people, these actors are dusting off the old playbooks from the "extradition bill protests". They are activating agents, sabotaging relief efforts, and desperately trying to reignite the "Black Riots" memories. The verdict? Their actions are despicable enough to be universally condemned.
To drive the point home, the OSNS fired off three consecutive warning shots to overseas antagonists and anti-China disruptors:
First, we solemnly warn hostile foreign forces and anti-China disrupters that their actions of creating chaos and disorder in Hong Kong are intolerable.
Second, we solemnly warn hostile foreign forces and anti-China disrupters that their actions of adding fuel to the fire will inevitably bring disastrous consequences to themselves.
Third, we solemnly warn hostile foreign forces and anti-China disrupters that the long arm of the law will catch up with them.
The OSNS is keeping receipts. Every word and every action used to disrupt Hong Kong goes on the permanent record, and culprits will be pursued for life. "Anyone who breaks the law," the office warns, there is no sanctuary. Whether you are hiding across the ocean or taking refuge in Taiwan, severe legal punishment is inevitable.
Why is the OSNS speaking up now? Read between the lines, and you see three strategic pivots.
First, this isn’t hypothetical; they believe the foreign interference is already happening. Second, the crosshairs are locked on external forces, with a pointed finger specifically at those hiding in Taiwan. And third, it’s a preemptive strike against anyone overseas dreaming of stirring up another color revolution. The warning is blunt: Distance is not a defense.
Opportunists, Grifters, and Organized Lies
Take a look at the chatter exploding across the internet, and the opposing voices generally fall into distinct camps.
First, you have the fair critics. There is plenty of commentary that, while critical of the SAR government, remains objective. These observers stick to the facts disclosed by official investigations rather than drifting into malicious fantasy. This is a natural, human reaction to a "disaster of the century." And the smart money says the SAR government will take this advice to heart and improve.
Then come the fame vampires. When disaster struck, the opportunists came out of the woodwork. Look at "internet celebrity" Kenny, arrested on December 3 after cursing the Tai Po fire victims online for having "heavy sins." It was a blatant, tasteless grab for traffic, and it landed him in handcuffs for sedition. Then there are the exiled influencers abroad, wantonly bashing the SAR government while coincidentally begging people to subscribe to their Patreon accounts. The hustle is obvious: They are monetizing misery to please their financiers.
Finally, there is the organized sedition. Beyond the grifters, we are seeing waves of calculated propaganda. These aren't just complaints; they are fabrications designed to smear the SAR government and attack the Central system. Rumor mills are churning out wild stories linking material suppliers to the families of Central leaders—plots that are total fiction. It’s as if they believe overthrowing the Central government provides immunity from fire physics. Do massive fires not happen in Western democracies? The logic is broken, but in the heat of a disaster, it’s a potent recipe for inciting public rage.
Sniper Attacks From The Shadows
The temperature on these seditious campaigns was rising fast until the Police National Security Department stepped in. Once they acted, the local noise quieted down—but the overseas attacks only intensified. It raises a suspicious question: Is there a coordinated machine working behind the scenes to sustain sniper attacks against the SAR government? The narrative is set in stone: Whatever the government does is wrong. Before a single investigator has arrived on the scene, the instigators are already screaming for heads to roll.
Here is the bottom line. The OSNS isn’t pointing fingers at external forces for sport; they are firing warning shots because they see the smoke rising. We need to be sharper than ever. Don't let external opposing forces play you for a fool, twisting a tragic fire into a tool for subverting the local government—or even the Central government itself.
Lo Wing-hung
