Evraz Board19 Sep 2022 12:38
This is on it today and I thought it might be of general interest.
''West wavers on Ukraine proposals to seize Russian assets as reparations
Exclusive: Ukraine lobbying UN and allies to clear legal path for extracting Russian compensation for war damage
Ukraine is facing a battle to persuade its western allies, including the UK, to back its proposal for any peace settlement with Moscow to include multibillion reparations by Russia, in part using seized Russian state and oligarch assets.
Those close to the talks on reparations in London came away with an impression that British enthusiasm in principle for the plan is being weighed against the potential legal and property rights issues involved.
Ukraine accepts that at present Russian state assets overseas enjoy sovereign immunity, but believes this can be changed through national legislation, as has occurred in Canada. It says a second process is required to seize assets of Russian companies or oligarchs.
Liz Truss as foreign secretary expressed support for the idea in principle, but has not repeated the proposal recently.
UK and European sanctions legislation allows states to freeze assets of the Russian central bank and some oligarchs, but does not provide for the permanent seizure, let alone their unilateral transfer to a fund to rebuild Ukraine.''
LOR