Should Russian Assets Be Seized?

UCL Uncovering Politics

Ukraine's ongoing struggle against the Russian invasion incurs an annual cost of approximately $50 billion, with projections indicating that post-war reconstruction will require at least half a trillion dollars. Western nations, primarily the EU and the US, have assumed much of this financial burden. In February, the EU pledged 50 billion euros, while the US Congress recently approved a support package totaling $61 billion.

However, the future commitment of Western governments and their citizens to continue financing Ukraine remains uncertain, potentially hinging on the outcome of the upcoming American presidential election in November.

Some propose an alternative solution to ease this financial strain: seizing Russia's frozen assets, valued at around $300 billion in Western countries. These assets, withheld since the conflict began, could be permanently confiscated and the proceeds allocated towards Ukraine's ongoing war efforts or post-war reconstruction.

Dr. Veronika Fikfak, an Associate Professor in International Law at UCL's Department of Political Science and an expert on the European Court of Human Rights, joins us to discuss the legal ins and outs of seizing Russian funds.

Mentioned in this episode:

• Dr Fikfak's talk delivered to the legal adivsors of the Council of Europe
• The Council of Europe

Further reading, from both sides of the argument:

• Confiscating sanctioned Russian state assets should be the last resort
• Confiscation of immobilized Russian state assets is moral and vital

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