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submitted 6 months ago by MicroWave@lemmy.world to c/world@lemmy.world

An ally of President Vladimir Putin warned Europe on Tuesday that Russia has already drafted legislation to retaliate if nearly $300 billion of Russian assets were seized by the West and used to help Ukraine.

After President Vladimir Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia's central bank and finance ministry, blocking around $300 billion of sovereign Russian assets in the West.

Top officials in the United States want to seize the assets to help support Ukraine, though some bankers and European officials are worried that simply taking the assets would create a dangerous precedent.

The U.S. House of Representatives passed legislation on Saturday including a bill with a provision that would allow the confiscation of Russian sovereign assets, though the lion's share of the assets are in Europe.

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[-] rayyy@lemmy.world 47 points 6 months ago

What's Puti gonna do? Invade another country?

[-] JohnDClay@sh.itjust.works 23 points 6 months ago

Yeah, I'm confused how they think they can retaliate.

[-] Corkyskog@sh.itjust.works 9 points 6 months ago

Cyber warfare is a definite possibility. Although it seems short sighted to waste 0 days on that.

[-] JohnDClay@sh.itjust.works 4 points 6 months ago

Why would you draft legislation to do a cyber attack? Seems more like a military thing.

[-] tal@lemmy.today 2 points 6 months ago

Cyberwarfare, political interference, nuclear weapons, sabotage of infrastructure, assassinations...

The question isn't really "can Russia", but "will Russia". Because Russia doing any of those is probably going to produce a response in turn.

[-] JohnDClay@sh.itjust.works 3 points 6 months ago

They're already doing the first two, last three seem like they'd get way more escalation than they bargained for. They don't have intermediate escalation options that they haven't used already.

[-] tal@lemmy.today 1 points 6 months ago* (last edited 6 months ago)

They’re already doing the first two

Not really a binary, though; they can dial things up or down.

[-] gregorum@lemm.ee 0 points 6 months ago* (last edited 6 months ago)

Isn’t a much of Europe still running off of a lot of Russian gas? They could just turn that spigot off.

[-] Skua@kbin.social 16 points 6 months ago

The EU has cut its imports of Russian gas down from nearly half of the total supply to about 15% since the war started, so that's not nearly the threat it once was

[-] gregorum@lemm.ee 2 points 6 months ago

While it’s great the EU has made such a reduction, it’s still a meaningful threat, even if it’s not the serious one it once was. And I also realize that we’re moving into summer which also blunts it a bit more.

I’m just considering what Russia could be referring to, what their options are. I think it’s most likely that any retaliation would come in the form of several smaller actions rather than a single larger one in order to exact the “hurt”, so to speak.

[-] fuckingkangaroos@lemm.ee 1 points 6 months ago

Losing that income would hurt the Kremlin a lot.

this post was submitted on 23 Apr 2024
166 points (94.1% liked)

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