The fate of Russia’s frozen assets: an economist named a legal way for their confiscation

The easiest and legal way to confiscate Russian funds and real estate around the world is to recognize Russia as a state sponsor of terrorism. This opinion was expressed on the air of the FREEDOM TV channel by Оlexander Savchenko, Doctor of Economic Sciences, public figure and rector of the International Institute of Business.

He noted that the funds of any central banks, placed on deposits or in securities, give a large income. At the moment, the Central Bank of the Russian Federation remains the owner of the frozen Russian funds.

“Most politicians in the EU countries believe that this money should be given immediately to the Ukrainians, in fact, the Ukrainian state, to the budget. And the leadership of the European Central Bank, Christine Lagarde, says that this could damage the euro, and it could stagger. And so it’s better not to touch them, let them be frozen,” Savchenko said.

He drew attention to the fact that so far the European Union has not developed new legislation regarding the frozen funds of the aggressor country. At the same time, at the NATO summit in Vilnius, it was decided that the money of the Russian Federation would remain frozen until the Russian Federation paid reparations to Ukraine.

Savchenko also recalled that the Wagner PMC was recognized as a terrorist organization, and Russian President Vladimir Putin publicly admitted that it was financed from the Russian budget.

“From here there is one step left – to recognize the modern state, led by Putin, as a terrorist state, a sponsor of terrorism. And all funds of sponsors of terrorism are subject to confiscation. No longer freezing, but confiscation. And not only money, but also property, real estate. And Russia has colossal real estate reserves around the world. These are embassies. Previously, there was a diplomatic taboo on any encroachment on this property. And everything is taken away from the terrorists: weapons, money, materiel, real estate. Here is the easiest way, legally, without fear that the currency may falter,” the economist said.

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Recall that since the beginning of the full-scale invasion, the United States has frozen Russian assets worth about $100 billion, the European Union – about $24.5 billion, Great Britain – $21 billion, Switzerland – just over $8 billion. the war brought Ukraine losses in the amount of more than 411 billion dollars.