{"id":67714,"date":"2024-04-28T15:18:18","date_gmt":"2024-04-28T20:18:18","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67714"},"modified":"2024-04-28T15:18:18","modified_gmt":"2024-04-28T20:18:18","slug":"can-the-us-legally-seize-russian-assets-should-it","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67714","title":{"rendered":"Can the US Legally Seize Russian Assets? Should It?"},"content":{"rendered":"
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Can the US Legally Seize Russian Assets? Should It?<\/a><\/h3>\n<\/div>\n<\/div>\n
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Congress\u2019s aid package encourages the president to seize frozen Russian reserves to support Ukraine. But the legality and desirability are both questionable.<\/strong><\/p>\n

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REPO Act Lets Biden Boost Ukraine<\/strong><\/p>\n

The Wall Street Journal writer, Robert B. Zoellick, says\u00a0REPO Act Lets Biden Boost Ukraine<\/a><\/p>\n

Now that Congress has approved assistance for Ukraine, the Biden administration should forge a long-term economic and military plan that will sustain that country in its war of attrition.<\/p>\n

If the U.S. continues to dribble out support, it would be making a huge mistake. American public support is likely to wane, and the Europeans are absorbed with internal debates. The nature of the war has changed\u2014militarily, technologically and economically\u2014over more than two years. President Biden\u2019s reactive approach reflects his senatorial style: He waits for events, issues statements and fails to seize the initiative. Congress is giving him one last chance to be a wartime leader.<\/p>\n

The aid package\u2019s hidden gem is the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, or REPO. It encourages Mr. Biden to transfer frozen Russian reserves to a trust fund for Ukraine. Members of Congress from both parties recognize that taxpayers want Mr. Biden to use an estimated $300 billion of Russian money to sustain Ukraine economically before asking Americans to pay more. The administration has hesitated to take this step but must do so now.<\/p>\n

Last year Treasury Secretary Janet Yellen justified inaction by raising concerns about how such transfers might affect the value of the dollar and the euro. But two years after freezing the Russian reserves, the dollar is stronger and the euro is fine\u2014in part because the alternatives are poor. China\u2019s yuan isn\u2019t a trustworthy reserve asset.\u00a0The world would be safer if countries realized that their foreign reserves would be imperiled if they invade the neighbors<\/em>.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

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Can the US Legally Seize Russian Assets? Should It? Congress\u2019s aid package encourages the president to seize frozen Russian reserves to support Ukraine. But the legality and desirability are both questionable. REPO Act Lets Biden Boost Ukraine The Wall Street Journal writer, Robert B. Zoellick, says\u00a0REPO Act Lets Biden Boost Ukraine Now that Congress has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[6526,14648,13390,34419,694,821,34418,834,1796],"class_list":["post-67714","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-asset-seizure","tag-michael-shedlock","tag-mishtalk","tag-repo-act","tag-russia","tag-ukraine","tag-unted-states","tag-us","tag-us-congress"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67714"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67714\/revisions"}],"predecessor-version":[{"id":67715,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67714\/revisions\/67715"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}