News Release

Behind Soros’ Attack on Russia

GILBERT DOCTOROW, [in Brussels] gdoctorow at yahoo.com
Doctorow recently wrote the piece “Twilight of the Gods: George Soros in Brussels,” which states: “George Soros’s press conference in Brussels on Thursday, 23 October, had one unifying theme, his loathing of Russia.

“Nominally it was to publicize his latest essay, ‘Wake Up, Europe‘ released several days ago on the online edition of the New York Review of Books and already republished in various world newspapers of record in local languages. …

“The setting for the event was a two-day Global Briefing seminar of the Brussels-based International Crisis Group which otherwise was taking place behind closed doors for the benefit of participants sponsored by their companies, embassies and NGO employers.

“But when you put up more than $50,000 a year in sponsorship contributions, as Soros does for the ICG, you get perks like the 45 minutes of on-record prime time just after lunch with journalists invited in as Soros did on Thursday. The moderator was of appropriate stature, ICG co-chair Lord Malloch-Brown….

“This New Ukraine, in Soros’ view, is the embodiment of democratic principles: of rule of law, fighting corruption, structural reform. It is on the front line against an imperialist minded, aggressive Russia. Therefore, it is in Europe’s interest to provide this New Ukraine with military assistance and financial aid, which immediately equates to 19-20 billion dollars. …

“When asked about the just released Human Rights Watch condemnation of use of cluster bombs by the Kiev government, Soros agreed this was very regrettable and he said he himself flagged the issue in a tiny box that is part of his essay.

“Of course, neither he nor anyone else in the room bothered to mention one nasty detail: the alleged use of cluster bombs by Government forces was directed against residential districts and schools, aimed almost exclusively at the civilian population.

“Soros has never been bashful about leveraging his philanthropic/cultural activities to serve his speculative ventures as financier. And so he used the press conference to appeal to Europe to supervise a debt exchange program that would effectively bail out bond holders of Ukrainian sovereign debt, to the tune of the $19 billion falling due in the coming year, and not to accede to a Cyprus or Greek type ‘bail-in’ or ‘haircut’ for the investors that would amount to default and cut off Ukraine from international financing of its private industrial recovery.

“This sounds nice, but as of the start of 2014, $7 billion of that sovereign debt was held by one U.S. company, Franklin Templeton. Turning those short term bonds into a modern day equivalent of Brady bonds with EU and US guarantees would clearly serve the interests of Soros’s friends in the investment community; and who knows, since Soros did not volunteer full disclosure and was asked by no one for transparency, how much of that debt he and companies he controls hold. …

“Press coverage of Soros’s appearance in Brussels has followed the master script of his handouts. Bloomberg.com was typically obsequious to the billionaire.”

Doctorow is a noted “Russia watcher,” a Brussels-based journalists and founder of the European office of the Committee on East-West Accord. For 25 years he worked for U.S. and European multinationals in marketing and general management with regional responsibility. Now Doctorow regularly publishes analytical articles about international affairs on the portal of the Belgian daily La Libre Belgique and has recently been a contributor of op-ed articles on U.S.-Russian relations to the English-language Moscow Times. He is a research fellow of the American University in Moscow.