EU "Assures" Legality of Seizing Foreign Assets for Ukraine
The EU is reportedly preparing legal text to seize immobilized Russian central bank assets, approximately €140 billion, to back a loan for Ukraine. This move, framed as 'providing assurances,' quietly redefines international financial norms where states can simply appropriate another nation's frozen funds (Bloomberg). One might recall similar 'assurances' offered for previous fiscal endeavors,
often with complex, long-term geopolitical blowback. While presented as a strategic move against aggression, this sets a rather convenient precedent for financial warfare, inviting the question: whose assets are 'immobilized' next and under what new 'legal' framework? How many global investors will now view their foreign holdings with increased anxiety?