from Great Game India:
Russia could retaliate if the West seizes assets, as it has taken conservatorship of assets from several foreign companies estimated at approximately $288 billion, which refused to operate in Russia.
Mechanism for Tit-For-Tat Response Already Exists
Sorry Yellen, Seizing Assets Won’t Crash Russian Economy
Pandora’s Box of Damage to the Dollar
Recipe for Action
TRUTH LIVES on at https://sgtreport.tv/
Russian assets worth over $300 billion were locked up overseas in 2022 as a result of the Ukrainian crisis turning into a full-fledged NATO-Russia proxy conflict. Threats have been made by Western authorities to take these monies and send them to Ukraine for “reconstruction.” Leading economists from Russia explain why that is a terrible idea.
The new U.S. sanctions imposed on Russia in reaction to the passing of opposition leader and anticorruption crusader Alexey Navalny are threatening India’s oil supply from Russia.
To support Ukraine’s ongoing resistance and long-term reconstruction, Treasury Secretary Janet Yellen has urged members of the Western “coalition” against Moscow to “find a way to unlock the value of [Russia’s] immobilized assets.”
“I BELIEVE THERE IS A STRONG INTERNATIONAL LAW, ECONOMIC AND MORAL CASE FOR MOVING FORWARD. THIS WOULD BE A DECISIVE RESPONSE TO RUSSIA’S UNPRECEDENTED THREAT TO GLOBAL STABILITY,” YELLEN SAID AT A MEETING OF G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS IN SAO PAULO, BRAZIL ON TUESDAY.
In response to inquiries about the possible risks an unusual step like this one would pose to the dollar’s standing as the de facto global reserve currency, Yellen stated that it is “extremely unlikely” that the dollar would suffer. She reassured me that “there are really no alternatives to the dollar, euro, and yen.”
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