DGS49
Diamond Member
It appears that Western Banks are holding about US$300Billion in "frozen" Russian deposits. Those banks/the EU are preparing to formally freeze those funds as a guarantee that Russia will pay reparations to Ukraine when the current conflict ends. Formal decision to be made by the end of the year.
But Mr. Putin has an economically "deadly" response at the ready. There is approximately US$800Billion - probably more - in European and American assets (businesses) in territory controlled by Russia, and Putin has created a law that gives him the power to "nationalize" those assets with only a few days notice, and with no recourse by the holders of those assets.
It's no fun being in a war where YOU obey the traditional rules and your adversary flouts them with impunity and enthusiasm. Putin doesn't want the war to end. "Everyone" is finally realizing this. And as long as the Russian population is willing to keep feeding him canon fodder...
I hope I got the right link. Jeffrey Sachs: Russia's Shocking Threat...
But Mr. Putin has an economically "deadly" response at the ready. There is approximately US$800Billion - probably more - in European and American assets (businesses) in territory controlled by Russia, and Putin has created a law that gives him the power to "nationalize" those assets with only a few days notice, and with no recourse by the holders of those assets.
It's no fun being in a war where YOU obey the traditional rules and your adversary flouts them with impunity and enthusiasm. Putin doesn't want the war to end. "Everyone" is finally realizing this. And as long as the Russian population is willing to keep feeding him canon fodder...
I hope I got the right link. Jeffrey Sachs: Russia's Shocking Threat...