CNN's Nic Robertson gained access to an enormous parking lot in the Belgian port of Zeebrugge where customs officials have impounded thousands of luxury cars parked by sanctions on Russia. #CNN #News
See thousands of impounded luxury cars at port parking lot
That’s a lot of luxury cars for a nation whose economy is the same size as Texas.
@piertinence I just don’t like that the perpetrators of this regime are being portrayed as either victims of it or powerful actors, while they were neither.
@Dan Brownell Fuzzy
Liz Cheney enters the chat:
Everybody else: 🦗
@ARX 351 What you own is not clearly secure in a kleptocracy
@J T Just like Don Corleone brother in God Father
@Dan Brownell Fuzzy 😂😆😆😆😆😆😆😆😆 that’s hilarious
Oh yes .. let us Sympathize for the ones that can afford Luxury Vehicles. 😢😢😢
I suggest mounting 50 cal.s on the roofs, and give them to Ukrainians.
Well said
ok that’s enough
Yea we should because those people sign your paycheck…
Amazing how you forget you work for rich people..
They should be resold, with profits going to pay the enormous war reparations in Ukraine. Russia can never repay the debt, but this would begin the process.
@Markus Müller You read my words what does that mean?
@Lana M that wont even cover 3% of cost to rebuild
@Markus Müller You read everything I write on here? There’s better things to read trust me. I just had a mastectomy and I’m laid up so I’m just seeing what’s going on. You’ve a job doing something with product’s right?
@Markus Müller Well what a boring life for you. Lol
@Traci W Would it maybe be a good idea to share your thoughts with an even wider audience on your YT channel?!?
Other viewers might be even more interested…
2:40 the sticker reads that Toyota car was shipped from Shinmoji port in Japan to Europe. maybe Toyota’s logistic guy who happens to read this will elaborate more.
TRUTHhttps://youtu.be/QwWZsILFQDg
❤️😉
It also lists the date as 1/23. Pretty sure this particular sanction wasn’t in place then.
@blissful kitty:
Remember the Evergiven?
Two questions; 1) Is there any reason why these things can’t still be sold by their manufacturers, on the EU market? and 2) Wait, cars below $55k still aren’t sanctioned yet? Or are those being sold locally?
@Bobby Friday the clever guys are buying only the cars which they know around their house.
Alot of cars below $55k manufactured in Russia, but now all this manufacter were freezed till the end of war or may be longer.
You should research your history, the Hiroshima and Nagasaki atomic bombs were dropped in retaliation for the Japanese attack on Pearl harbor
The cars are unlikely to be owned by the OEM, nor the importer/exporter…. As it is very likely that the vast majority was bought with Bridging finance.
Of course supercars or mega luxury customs are likely to be fully paid up front but not your “luxury” cars that one buys at a dealer.
If you ask me, after the war in Ukraine ends, Europe and other nations should agree to either give the majority of these cars to the people of Ukraine, or better yet, resell the cars and use the money to help rebuild the cities destroyed by the conflict.
Should be sending these cars to Ukraine now.
All their troop carriers have been destroyed and apparently they are ferrying their soldiers from action to action in private cars.
Those Cadillacs would make brilliant targets…
Selling them and using those funds to aid Ukraine would be the best option, although sending luxury cars might help, I believe building new schools, hospitals and roads might help even more 🙂
How about we keep them for the millions we sent them already
It would be interesting to know who really is taking the loss on these vehicles. Did Russians already pay for them?
@Omar Williams There is no need for court. The Russian banks will either pay, or go bankrupt. Bank guarantees are also insured, so the manufacturers will get their money regardless. This is the whole point of bank guarantees.
@D. Adamson Russia has plenty of resources, don’t worry about them too much. If they decide to start war it is not because they have nothing to eat, their current war is the best example after all as the whole purpose is the Soviet Union style imperialism.
@K Me 🥺
The cars are likely owned by the import company. That’s doesn’t mean they have been paid for. You can “own” something but still have a loan on it. That would be the case here. They are “owned” by the importer, but there are loans on the cars from the manufacturer. The loan to value is probably 90% or more. At some point the manufacturer needs to default the loan and repo the cars.
If you want to loan (and it’s owned by the bank, which lends the money) that amound of money, you have to pay for at least 10 percent by yourself as a security deposit. For cars it’s mostly around 30 percent. So if the banks would sell the cars, they would still make a huge profit, which could be given to Ukraine.
Ah, but then WHO is the import company? European? Russian? Hidden under 10 layers of holding companies and fronts, like some of those yachts? Insured? Who are the stockholders? If the loan really is owned by the manufacturer, that’s another can of worms. (Not the mfgr., just the complications.) Plus, these vehicles deteriorate just sitting out, not run. All sorts of things start going wrong in modern vehicles not run often. (I found this out the hard and expensive way, and it’s even worse in newer autos.) It’s not that I oppose crippling Russia, but, I just hope this does not hurt us more than Russia.
Um, no. Cars don’t leave the factory until they are paid in full. The manufacturers don’t own these cars. Technically the importer owns the cars, but like you pointed out most of the importer’s inventory is financed. The cars can’t just be sold to someone else in Europe for a lot of reasons. Eventually the importer will the default and the both the importer and the finance company will be burned badly. The Russians will just buy new cars from the Chinese.
@MrSloika Or from the Curry
Sell them ALL.
Give the proceeds to Ukraine for rebuilding their country.
period.
The average annual household income in Russia is equivalent to about $10,000 (USD) per year or less than $1000 per month. Clearly, these luxury cars are for Russians who are far, far, far above the average income level in Russia.
@Emma Green On a dad perspective I watch news in multiple languages and I learned Ukraine for work 40 years ago. I like everyone, but for the first time I’ve witnessed a hatred like the South African hatred. Russians hate Ukrainian people, not all. They voice it and it’s not getting better. That’s why I noticed some of the channels you follow. Well they’ve said things that makes their life’s at risk. I’m not saying you should know this, I don’t want you to see this. There’s a whole lot more to what’s happening. Huge numbers of Russians find it hard to deal with how wealthy Ukraine was.
@Kiwi Newz If I have sent you duplicate replies, I apologize. My comments keep disappearing. Perhaps because I added a link. I added it separately this time. It says that Ukraine is the poorest country in all of Europe, with an average income of $3500 . It’s hard to understand a millionaire or billionaire president (depending on the source) getting so rich in a country of so little in an honest way. The Ukrainian and Russian people are both being played. NATO wants electric cars. They need lithium to make batteries for electric cars. Their current allies have no lithium. The Donbas region does. Soldiers have to try to “hate” the “enemy”. How else can they live with killing people they don’t know, who have done nothing to them?
Perfect time to disperse all that product into economies that really deserve it.
I can only think that if there are 1000s of “luxury” handbags they cant be THAT luxurious
While in Russia cut up hand bags bc stores left and now no jobs and they didn’t make much anyway so average was like 2100 a year ruble equal to USD so yes big difference between America and Russia especially pay
Don’t forget Russia grounded 750-900 passenger aircrafts that were leased to it by west and won’t make payment on it. Now talking about nationalization of them. It’s worth roughly 200k billion.
The aircraft were seized, not grounded. They will be grounded when maintenance and parts make them unusable. And, it’s not 200k billion, it’s 200 billion.
considering the road conditions and poor driving abilities of most Russians they should be buying bumper cars not Cadillac’s.
Well, there’s that supply chain issue. Cars are also in short supply. Just do whatever modifications are needed to sell them in a different country (like the U.S. and elsewhere) and send them on their way.
This is what comes to mind when thinking of Russia, luxury cars, equating to the deaths in Ukraine.
Great to hold this stuff in unsecured lots ..
Your looking for a crime? invading another country and mascaraing its people. THAT IS A CRIME
Russia is only facing “special Economic operations” not sactions. lol
Hopefully those luxury cars will be sent to Ukraine. “Grannies in Caddy’s.” Hell yeah!