JRL NEWSWATCH: “Seizing Frozen Russian Assets Over Ukraine War Wins Endorsement of Legal Experts” – Bloomberg
- Letter from scholars backing seizure is circulating in G-7
- ‘It would be lawful, under international law,’ 10 experts say
“A group of legal experts sought to bolster the case for seizing frozen Russian central bank assets, arguing that such actions are allowed under international law given the scale of Russia’s continuing attacks in Ukraine. … The letter … is co-signed by ten international law experts and practitioners from Belgium, France, Germany, Japan, the Netherlands, the UK, and the U.S. … Still, G-7 nations are discussing options… [such as] using the funds as collateral to raise debt or as guarantees for loans. … [T]he legal experts recommend the states that have frozen these assets transfer them to an international mechanism under their jurisdiction, which could then allocate escrowed assets to support programs to mitigate damages and aid Ukraine’s recovery….”