Confiscating Russian assets would not break international law — it would safeguard it

BRUSSELS - European officials highlight potential economic retaliation — particularly from China and Saudi Arabia — as the main reason to refrain from confiscating Russia’s frozen assets.

Whether in the form of direct retaliation against large EU member states such as France and Germany, or by withdrawing state assets from European banks, they fear that retaliatory steps could undermine the euro as a reserve currency and threaten Europe’s economic stability.

 

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