European nations more famous for long holidays and plentiful healthcare than waging wars have broken a lot of taboos since the Russian invasion of Ukraine. They’ve shipped weapons and ammunition to Kyiv, paid the economic price of unhooking from Putin’s natural-gas nozzle, and rolled out an unprecedented artillery of economic sanctions more typically associated with the US.

Now pressure is mounting to break the next taboo. The White House is backing legislation that would let it seize some $300 billion in frozen Russian assets to help pay for Ukraine’s reconstruction, the cost of which has been estimated at around $150 billion. This in turn has put America’s European allies in the hot seat because that’s where about $200 billion of those assets sit. It’s a potentially huge turning point in the effort to punish Russian aggression — one discussed by French and Ukrainian ministers this weekend — but one that requires a rethink.

QOSHE - Mad Over Russian Billions? Tax, Don’t Confiscate - Lionel Laurent
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Mad Over Russian Billions? Tax, Don’t Confiscate

5 1
15.01.2024

European nations more famous for long holidays and plentiful healthcare than waging wars have broken a lot of taboos since the Russian invasion of Ukraine. They’ve shipped weapons and ammunition to Kyiv, paid the economic price of........

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