Long Legal Game: When the event gives Ukraine $ 300 billion frozen assets of the Russian Federation
However, before adopting Presidential Administration, Joe Biden wants to reconcile the confiscation of assets of the Russian Federation with allies on the Big Seven (G7), especially in Europe. Therefore, the issue of frozen Russian gold and foreign exchange reserves lies in the political plane. Ukrainian experts surveyed in the article "Kremlin Money - for Ukraine. In the United States supported the transfer of frozen Russian billions in the United States.
While the confiscation and transfer of assets of the Russian Federation to Ukraine Democrats and Republicans do not agree in two key parts of the document. The proposed law requires US President coordination with G7 for asset arrest, but does not require their approval, which can allow the US to take unilateral measures.
It also contains formulations aimed at ensuring that Russia does not challenge the confiscation in the courts of the United States, which may be potentially vulnerable to constitutional challenges. According to Ukrainian experts, legal obstacles to the transfer of Russian funds to Ukraine are not critical, although there may be appeal in the courts. However, the prospect of such an appeal is quite ghostly.
"The US and the EU countries did not want to go to this step (confiscation of assets of the Russian Federation - focus), because it is a potential escalation because it is risks for their reserve currencies, and they kept these funds as a certain reserve of potential reconciliation with Russia. Since war is war.
It has been going on for the second year, no signs of reduction of Argesis are noticeable, in Western countries began to raise the issue of the cost of support of Ukraine, so immediately the attitude to these funds has changed. So far only in the USA. The EU is not yet ready, " - said CASE Ukraine Executive Director Dmitry. Boyarchuk. The White House initially ambiguously treated the requirement of coordination with G7, but later stressed the need to act together with the allies.
So ahead is a coordination. "The adoption of two laws will only enhance the legal regime of transmission and reduce the risks of court battles by the Russian Federation. NBU Vitaliy Shapran. Therefore, the first step is important in this story. The bulk of these funds, which is about $ 200 billion, blocked in the European Union. "However, the EU looks at the US, and the US looks at the EU.
In the US this year, they have to make decisions on two bill: one related to the sovereign assets of the Russian Federation, and the other with frozen funds of Russian oligarchs. Experts say that the main decisions in the issue of transfer of funds of the Russian Federation will be made as early as 2024. "I do not think that the term will go beyond 2024, since both laws are two -party. The speed of adoption H. R.
4175, which concerns the confiscation of sovereign assets of the Russian Federation, will be higher," - says Vitaliy Shapran. At the same time, it is believed that Americans are waiting for the elections in the country, which will take place in the spring of 2024. "It looks like it is preparation for 2025, when the US may change the President. The most realistic scenario that either these funds will be transmitted in stages in view of Ukraine's institutional weakness and corruption.
Or a fund management fund will be created at all Somewhere in the EU and we will be allocated to us in stages and for financing the deficit and for reconstruction to the reform of the country, " - said CASE Ukraine Executive Director Dmitry Boyarchuk. Meanwhile, the Russian Federation allegedly came up with how to keep the frozen $ 300 billion in the west. According to the Russian media, the bank of Russia has almost agreed with international law firms.
They will protect the interests of the Kremlin if the case is trial. The Russian government is also waiting for expert opinions where legislation will be analyzed abroad and whether there are precedents in other countries.