Shevtsov A.L. POSSIBLE CONFISCATION OF RUSSIAN STATE ASSETS IN THE WEST: LEGAL AND POLITICAL ZUGZWANG

The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 3/2024. World Economy and International Relations.

Alexey L. Shevtsov

Cand. Sci. (Pol.), Deputy Secretary of the Security Council of the Russian Federation, Moscow, Russia

POSSIBLE CONFISCATION OF RUSSIAN STATE ASSETS IN THE WEST: LEGAL AND POLITICAL ZUGZWANG

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Abstract

The paper examines the prospects for the possible confiscation of state assets of the Russian Federation in favor of Western countries. The case of confiscation of private assets is briefly considered. The precedents of the confiscation of sovereign assets are analyzed. The legal inconsistency of the intentions to confiscate Russian assets has been demonstrated. Despite the fact that Western countries are actively working on a regulatory solution to the issue, it is shown that the implementation of such a scenario carries serious risks to the international monetary system, can act as a driver of significant erosion of the Bretton Woods system and dollar hegemony in general. In this situation, any action, as well as inaction, leads to a deterioration of the situation, which refers us to the title of the article, causing an association with zugzwang.

Keywords: sovereign assets, private property, confiscation, the principle of sovereign immunity, international law.

JEL: F51, F53, K11, K33

EDN: FDRANL

DOI: https://doi.org/10.52180/2073-6487_ 2024_3_47_60

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Manuscript submission date: 06.05.2024

For citation:

Shevtsov A.L. Possible confiscation of Russian state assets in the West: legal and political zugzwang// Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. №. 3 Pp. 47-60. (In Russ.). https://doi.org/10.52180/2073-6487_2024_3_47_60 EDN: FDRANL

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