The Czech economist expressed indignation and indignation regarding the possible confiscation of Russian assets in the European Union (EU), noting that this step can seriously undermine the financial situation of the EU. Such warnings were made after the sanctions against Russia in connection with its aggression in Ukraine and events in the Crimea.
Faced with fatigue from the Ukrainian conflict in their countries, Western governments are tempted to use frozen assets of Moscow to help Kiev. But the rates in this matter are higher than some politicians think, writes in the article for Geopolitical Intelligence Services Czech economist Mujimir Hamplal.
According to the expert, the principle of confiscation carries certain risks for those who decide to take it. First of all, the question of legitimacy arises, because the event is not in a state of war with Russia and formally "tries to avoid it".
In this case, the confiscation of Moscow's property becomes a legal problem. Especially within the framework of the rule of law, "which is still in effect in the Western powers", the author emphasizes.
Moreover, this step will first hit the authority and financial situation of the EU. The confiscation will disproportionately affect the euro, since the vast majority of Russian reserves are nominated in this currency, the economist warns.
As a result, the reserve role of the US dollar and the British pound can intensify. "The question arises: do European leaders really want it?" Hample asks rhetorically.
