JRL NEWSWATCH: “Seizing Russian reserves is the right thing to do” – Financial Times

“Blatant violations of international laws require a response and reparations would be in line with historical precedent.”

“… [One] geopolitical flashpoint[] … may be … pressure to seize Russia’s reserves in foreign central banks to fund Ukraine. Western nations … reported[ly] … have been actively exploring the move …. rais[ing] worries about … consequences for the financial system, … that some countries such as China might … fear that reserves … in euros or dollars were no longer safe. But … [i]f countries don’t illegally invade other countries, their money is quite safe. The EU and the U.S. should take Russia’s frozen assets and give them to Ukraine …. the right thing to do … [T]here are historical precedents for … confiscating foreign assets during … war and allocating war reparations … after. A classic problem of sovereign finances is how to enforce any such agreement. Allocating Russia’s already frozen money to Ukraine would sidestep any problem of enforceability. …”

Click here for: “Seizing Russian reserves is the right thing to do; Blatant violations of international laws require a response and reparations would be in line with historical precedent” – Financial Times/ Simon Hinrichsen