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Seizing Russia’s money to aid Ukraine is a dangerous move
The power to confiscate sovereign assets once exercised risks undermining global financial stability and legal order. It also weakens US leverage.
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The idea of seizing the assets of a sovereign nation is not merely deeply counterproductive but also highly dangerous to global financial stability and legal order.
PHOTO: REUTERS
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Where there is a will, there is a way. At least that seems to be the view of the US Congress, which has decided to give President Joe Biden legal powers to confiscate outright any cash, shares and other assets belonging to Russia currently held on American soil.
US lawmakers justify the move with references to natural justice. At the end of this week, the world will mark 800 days since the Russian invasion of Ukraine,
