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The author is the vice-President Kamala Harris National Security Adviser. Daew Sinh, Deputy National Security counsel for international Biden administration economy, also contributed
Europe’s response to the shocking withdrawal of withdrawal of Trump for Ukraine is admirable and can prove historical. Instead of accepting Donald Trump’s refusal to the wrong account of Russia about the war, remained silent, or quarreling themselves, increased security leaders and gathering a “coalition of ready”.
These steps are welcomed, but not enough. Increase in European defense expenditure is not easy to come to replace the equipment Washington transferred to Ukraine. And without an American backstop, Trump refused to give, even European forces in Ukraine is not a sufficiently controlling future attack in Russia.
However, the actual effective option to save Ukraine is to seize more than $ 200bn of Russian property supporting Ukraine’s economy, supporting the Ukrainian industry. Such money can help acquire Ukraine in ways to protect himself and provide a line of life for its economy. And it will provide Europe that negotiation leverage must be this broker a reasonable and lasting end of the war.
French officials reported To consider a plan to seize Russian assets if Moscow violates the future deals with the cease. But that idea doesn’t look at reality that any stopping quantity paper written in Ukraine has a force to make a strong economic attack of the three-year attack of Russia. Nor do these things do not use some frozen properties, especially to cut financial support for Ukraine.
In the Biden administration, we work for many years to attract Europe to join us in transit to Ukraine’s assets, but unsuccessful. While Europeans included a G7 autumn agreement to give a Ukrainian loan with an interest in overwhelming possessions, they continue to stimulate frozen reasons to seize the principal. But their arguments will not be attracted and more attractive today. As European leaders think of their choices, they should remember many points.
First, while legal basis for forfeiture is relied on, many legal scholars concludes that it is very good while it is made of unlawful Russian attack. The long-established principle of “withdrawal” will allow Ukraine to claim its claim for caution in Russian injuries to obtain frozen assets.
Second, the seizure of Russian properties in Europe is not, contrary to European concerns, harms the nations that are free from these properties, in the G7 and G7 and G7 countries. US, European, UK, and Japanese actions that prompts Russia’s assets in 2022 cannot stop dollars, euros, even if no one believes astops
Third, because most of the frozen European properties do not mean that the euro is more dangerous than dollars. There is no secret that US authorities bring to attract G7 to avoid Russian assets at Putin’s immediate invasion. Last Spring, Congress votes most of the President Authority to catch these assets for the benefit of Ukraine. Today, no potential aggression people will end their possessions that are safer in the US than Europe.
Fourth, the risk of opening the Pandora box for World War II repacrations have been overblown. While some of the Poland use the seizure to strengthen their long-term claims, there is no appetite to another place for an opening issue.
And finally, while Russia threatened revenge against foreign companies who operated there if Europe transferred frozen properties to Ukraine, the risk is small. Any Western business with still physical or indefinite assets within Russia writes the claims or understand that they need to do it.
None of these will eliminate European concerns regarding the seizure of Russian assets as important. But with US support for Ukraine today in extreme doubt, the most dangerous disaster is continuously disapproval. Decisive European steps to seize Russia’s assets would shake up the balance of power in the conflict as much as Trump’s Pivot to Russia Last Week Did – But this time in the name of a democratic ally fighting for its existence.