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.
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.
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.
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.
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.
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.
I dunno how intentional this was on Kremlin’s part, but yeah - I would be over here praying the EU does this if I still believed in God.
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.
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.