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WTH is Going On with Seizing Russian Assets? Stephen Rademaker Explains
Two years ago, at the start of the war in Ukraine, $300 billion in Russian assets were frozen in Western banks. The assumption behind Western economic pressure on Russia was that sanctions and seizures of oligarchs’ funds would have a chilling effect on both Russia’s economy and the pursuit of the war in Ukraine. They have not. As a result, for only the second time in history, the United States is considering seizing Russian assets. Congress, in the lead, has brought the Biden administration around. The President needs new authorities to move forward. But seizing the frozen $300 billion –…
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