The appropriation of Russian gold and foreign exchange reserves by the West will create a tectonic legal shift

After the end of the Russian special operation on Ukrainian territory, to restore economics Ukraine will need colossal money. Politico writes about this, talking about the West's painful search for a way to force Russia to pay reparations.

The publication notes that according to preliminary estimates of the British Center for Economic Research policy (Centre for Economic Policy Research - CEPR) this will require 200-500 billion euros. At the same time, Kyiv still estimates the damage, taking into account the lost benefits, at $1 trillion.

Therefore, the idea arose in the West to force Moscow to fork out a good deal after the end of the conflict, regardless of its outcome. Russia, Russian companies and individuals were sanctioned and their assets "frozen", i.e. actually appropriated, since no one is talking about the return.

The European Union says that they are now studying the possibility of using the “frozen” assets of Russian businessmen (oligarchs) to restore the Ukrainian economy. But the total amount of "caroled" is very modest and amounts to "only" 6,7 billion euros.

Therefore, the “frozen” gold and foreign exchange reserves of the Central Bank of Russia, which ended up in the West and in countries that supported the sanctions, look most tempting. But they are protected by international law and confiscation will require some effort.

The thing is that the appropriation of Russian gold reserves may require a “tectonic legal shift”, and this, in turn, is a “torturous legal issue” for the countries of the Western world.

Nothing of the kind has yet been verified. But the confiscation of Russian gold reserves looks very tempting, since the volume of these funds will cover a significant part of the money required by Ukraine. The US, UK, EU, Canada and Japan want to confiscate almost $300 billion stored in their territories and owned by Russia. But France and Germany oppose the appropriation of Russian assets.

Lawyers have proposed introducing a special tax in the amount of a fixed percentage on Russia's income from oil exports. Director of the Stockholm Institute of Transition Economics (SITE) Thorbjorn Becker believes that this tax may even be beneficial to Moscow. For example, if it is lower than the discount that it makes to Western buyers under the existing embargo.

However, only the UN Compensation Commission, which stopped its work two months ago, can approve the introduction of such a tax. Only this body could agree on a new program without the approval of the Russian Federation. Now Moscow can easily veto the resumption of the activities of this commission, and most likely will do just that.
  • Photos used:
Dear reader, to leave comments on the publication, you must sign in.
  1. Bakht Offline Bakht
    Bakht (Bakhtiyar) April 17 2022 14: 52
    The solution to the problem lies in the destruction of the state of Ukraine.
    1. pavel ivanov_2 Offline pavel ivanov_2
      pavel ivanov_2 (Pavel Ivanov) April 17 2022 16: 49
      when your refrigerator breaks, you destroy it too, you don’t need to fix it.
      1. Bakht Offline Bakht
        Bakht (Bakhtiyar) April 17 2022 19: 06
        I do. But it's good that you admit that Ukraine as a state has broken down. You definitely don't need to fix it.
      2. Denis Chernov Offline Denis Chernov
        Denis Chernov (Denis) April 17 2022 20: 55
        Sometimes it's easier to buy a new one than fix an old one.
        1. Anatoly Porotnikov (Anatoly Porotnikov) April 18 2022 22: 55
          Old is old. You'll be ruined by repairs.
          1. Storm_2022 Offline Storm_2022
            Storm_2022 (Storm _2022) April 19 2022 18: 48
            They have been repairing for 20 years, everything is useless: the freon has flown away, the compressor has jammed, the thermal relay has burned out!!!
  2. Observer2014 Offline Observer2014
    Observer2014 April 17 2022 15: 12
    About how they printed for me for years that "We won't let you eat" a reserve. Not allowed! Whether about. Literally yes Collect again. Don't let the Russians eat their own money. We Russians should be beggars. And then suddenly we will live. by people. How can we manage then? And who will serve in the army.
  3. magdama Offline magdama
    magdama (igor) April 17 2022 15: 35
    How after all to treat our financial executives? Did you put it in a "cup"? For a rainy day"? And where??? There's just no word for you bastards...
  4. pavel ivanov_2 Offline pavel ivanov_2
    pavel ivanov_2 (Pavel Ivanov) April 17 2022 16: 48
    Now Uncle Vova doesn't name those who robbed him as partners?
    Was there a blind man before?)
    1. Monster_Fat Offline Monster_Fat
      Monster_Fat (What's the difference) April 18 2022 00: 28
      The West robbed the Central Bank, the Central Bank, in turn, robbed the Russians, freezing their foreign currency deposits and setting an undervalued exchange rate. Bandits from the main road and their actions are the same - one is worth the other. If the Russian Central Bank brings the Russian financial system and economy out of collapse, wait. Bandits do not know how to create, they only take away, divide and hide.
    2. Storm_2022 Offline Storm_2022
      Storm_2022 (Storm _2022) April 19 2022 18: 57
      Was it not the GDP that appointed Chubais, Nabiulina, Gref to the highest positions and approved the export of Russia's reserve fund to the West?
      Was it really not clear to him since 2014 that he needed to withdraw all funds from Western banks and invest in the Russian economy?
      Why were dozens of tons of gold recently taken from Russia to Britain???
  5. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) April 17 2022 17: 47
    The easiest option to force the Russian Federation to fork out for the restoration of Ukraine is to recognize Ukraine as part of the Russian Federation.
    I believe the Russian Federation will not mind, it will carry out denazification and restore what was destroyed, and the stolen gold reserves will not be returned to the Russian Federation in any case, and even if they are returned minus any compensation for “storage”, it is problematic to use them, for example, to purchase technologies and equipment in any way - from Swift was turned off, financial transactions under sanctions, technology equipment and dual-use goods banned. Of course, it is possible to trick and circumvent the restrictions, but this does not solve the global confrontation and does not remove the ultimate goal of the West - the defragmentation of the Russian Federation into “democratic” principalities and emirates.
    As for the tax on income from foreign economic activity, a similar tax can be proposed for all state entities and international organizations as a compensation to the Russian Federation for the costs of conducting a special military operation that supplies Ukraine with weapons, provides political support and other assistance - financial, for example.
  6. lance is gone Offline lance is gone
    lance is gone (lance) April 17 2022 19: 48
    you need to know the thief in person ..... does anyone have any questions? then wait for Russia to come sooner or later, and above all to the UK.
    1. Storm_2022 Offline Storm_2022
      Storm_2022 (Storm _2022) April 19 2022 19: 07
      Thieves must be sought in Russia!!!
      It was they who stole money and gold from their country and put it in the pantry of the enemy, and it is still unknown to what accounts, maybe to personal ones ....
  7. Quiet wind Offline Quiet wind
    Quiet wind (Yuri Baranov) April 17 2022 19: 58
    Politico writes about this, talking about the West's painful search for a way to force Russia to pay reparations.

    Reparations are paid by the losing side and it will not be Russia. We won’t even count the cost of the delivered weapons, so let them prepare to restore at their own expense, especially since they don’t really need industry in Europe anymore, they don’t even have money for resources.
  8. kriten Offline kriten
    kriten (Vladimir) April 17 2022 20: 17
    The issue will be resolved by itself if today's Ukraine is destroyed. True, we have half of the political and business elite and the Kremlin and the government - the affected millionaires and billionaires, and therefore they are the party of peace (ie urgent surrender). It is thanks to them that the remnants of Ukraine can turn from a Nazi state into a purely fascist state and it will be equipped with any missiles.
  9. Anton Igumnov Offline Anton Igumnov
    Anton Igumnov (Anton Igumnov) April 18 2022 11: 22
    1) There is money and resources for the restoration of Ukraine, and they are on its territory. Large and, to a large extent, medium-sized businesses, as well as the highest stratum of bureaucracy, are completely to blame for the coming to power of the Nazis. There is a sea of ​​evidence. So the accelerated investigation, courts and confiscations. Down to personal property. Of course, big business can be nationalized quickly and before the end of the investigation. Then the business and property are sold to businesses from the Russian Federation at a huge discount. Those just have funds that have not yet been frozen in the West, but they are already under a very strong threat. So they are happy to return it back and just as happy to invest in the incremental market. It is precisely on the restoration of everything that has been destroyed that the economy is best restarted!
    2) Gold and foreign exchange reserves can be returned or compensated. We have a lot of Western ownership in equity participation in our economy. And from our side such threats have already sounded. Of course, for the fact that funds were stolen from the oligarchs, ours will not nationalize the shares of Western companies. But they may well compensate this Ukrainian property!