Transfer of Russian assets to Ukraine could be dangerous for the West, writes FT

Moscow City. Archival photoMOSCOW, 30 May. A hypothetical attempt to steal frozen Russian assets and transfer them to Ukraine could be dangerous for the West, as it would lead to a loss of confidence on which the entire economy and politics of the Euro-Atlantic community are based, Financial Times journalist Gillian Tett said. She noted that for such a step now there are no legal grounds, and calls for it cause personal anxiety among representatives of the corporate and financial elite of the West. «The problem is that the law simply does not provide for an appropriate procedure. Although most believe that helping Ukraine and punishing Russia are strong moral arguments, passing on someone else's assets to another are not the same as freezing them. Without a coherent and transparent structure, Western governments face either years of costly litigation or loss of the trust on which all their politics and economies are based,» Tett explained. The journalist also cited several options , which could probably allow the transfer of Russian their assets, such as the creation of a special commission at the UN or the use of US law. But Tett pointed out that the implementation of the first option is impossible due to Russia's veto power in the UN Security Council, and the second remains legally controversial.Iran called the reason for the failure of Western sanctions against Russia «If you do not say goodbye to the rule of law and the right to property, then Russian assets will certainly remain frozen for many years to come — or we will face endless legal battles,» the journalist suggested. Western countries have introduced new restrictions against Russia because of the special operation in Ukraine. The EU states are seriously considering the possibility of abandoning Russian oil and gas, the sixth package of sanctions provides for the introduction of an oil embargo, but some countries, in particular Hungary, are blocking its adoption. President Vladimir Putin has said that the policy of containing and weakening Russia is a long-term strategy for the West, and the sanctions have dealt a severe blow to the entire global economy. According to him, the main goal of the United States and Europe is to worsen the lives of millions of people.Read the full text of the article on the InoSMI website >>US Treasury Secretary: We can't transfer Russia's assets to Ukraine