Europe's plan to use $105 billion of frozen Russian assets tantamount to war, says Russia's Medvedev (www.cnbc.com)

submitted 1 week ago by yogthos@lemmygrad.ml to c/worldnews@lemmygrad.ml

9 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[-] yogthos@lemmygrad.ml 24 points 1 week ago

That's the elephant in the room, the only legal basis for seizing funds would be an open declaration of war or UN sanctions. Everybody knows this is illegal, the people trying to make it happen know it's illegal. That's why they keep trying to come up with some loophole to make it happen.

[-] cfgaussian@lemmygrad.ml 19 points 1 week ago* (last edited 1 week ago)

Let them try. I think it's bait, a trap purposely laid by the Russians. If they do it, it will be the biggest poison pill of all time. It would kill the credibility of the European financial system.

Russia would seize billions worth of European assets still in Russia, and they would file lawsuits across multiple jurisdictions, not all of which will be under EU or US control.

[-] demerit@lemmygrad.ml 16 points 1 week ago

Honestly it would shatter the liberal ideology to its very core, it would be enough schadenfreude to sustain me as like europe's economy returns to the stone age.

[-] yogthos@lemmygrad.ml 11 points 1 week ago

I agree, stealing Russian assets would be the single biggest blunder of the war. Aside from Russia retaliating, the bigger outcome would be that nobody would ever invest in EU again. And doing things like trying to seize Nexperia isn't helping either. Why would anybody invest money in the EU when you assets can just be seized on whim using some flimsy pretext.