WaPo op-ed: Seize, don't just freeze, Putin's Billions
"In response to the aggression against Ukraine, the United States, the European Union and democratic states across the globe (even banker-friendly Switzerland) have frozen the assets of Russian President Vladimir Putin and his oligarchic cronies. This has clearly failed to halt the onslaught. The question is what to do now.
The answer is, it is time to seize the frozen assets and use them to support humanitarian aid in Ukraine and the more than 1 million Ukrainians forced to flee as refugees. If and when Ukraine is freed from Russian occupation, any remaining funds can be used to help rebuild the country. In the meantime, the seizure would relieve the European taxpayers who will pay to support the refugees and punish the responsible aggressors.
The sums involved are potentially enormous. Various economists have estimated Putin’s wealth between $100 billion and $200 billion — largely held in offshore accounts and properties outside of Russia, and therefore potentially subject to seizure..."
SNIP
"... The Magnitsky Act authorizes the U.S. government to freeze the assets of any foreigners, anywhere in the world, accused of human rights violations under international law. Canada, which has a similar Magnitsky Act, is considering a further step: A bill (S-217) before the Canadian Parliament would authorize Canadian courts to confiscate the frozen assets and redistribute them to address humanitarian needs of people displaced by the violations. In Europe, where the E.U. provides a legal basis for freezing assets of those who violate human rights, member states have taken individual action: In 2017, a Spanish judge ordered the seizure of properties owned by an uncle of Syrian President Bashar al-Assad in a money-laundering case..."
More: https://www.washingtonpost.com/opinions/2022/03/03/seize-dont-just-freeze-putins-billions/
About the authors: Michael Doyle is a professor at Columbia University and senior fellow of the Carnegie Council, where he directs its refugee and migration project. Dorothea Koehn is a master’s of international affairs candidate at Columbia and a research fellow at the Carnegie Council. Janine Prantl is a postgraduate legal fellow for the Global Strategic Litigation Council for Refugee Rights.
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