by Tit for tat. Not quite, yet.The [Kremlin] spokesman [Dmitry Peskov] added that the move “mirrors the attitude of Western states towards foreign assets belonging to Russian companies.”“The main goal of the step is to create a compensation fund for potential use in tit-for-tat measures in response to the expropriation of Russian assets abroad,” Peskov said. He added that a number of states systematically carry out a rapid transition from temporary administration to actual confiscation..The decree does not deal with property issues and does not deprive the owners of their assets, Peskov stressed, noting that the list of assets subjected to the measure could be expanded.Like weaponizing a currency, confiscation of economic assets has adverse effects on the world system. One affects financial
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Mike Norman writes Class
Mike Norman writes Episode 8 (S2) of the Smith Family Manga is now available — Bill Mitchell
Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform
Nick Falvo writes Homelessness planning during COVID
The [Kremlin] spokesman [Dmitry Peskov] added that the move “mirrors the attitude of Western states towards foreign assets belonging to Russian companies.”“The main goal of the step is to create a compensation fund for potential use in tit-for-tat measures in response to the expropriation of Russian assets abroad,” Peskov said. He added that a number of states systematically carry out a rapid transition from temporary administration to actual confiscation..
The decree does not deal with property issues and does not deprive the owners of their assets, Peskov stressed, noting that the list of assets subjected to the measure could be expanded.
The move will “ensure the uninterrupted operation of companies significant for the national economy and eliminate the risks of the political position of a number of unfriendly countries influencing” the security of Russia.The original owners are considered to have temporarily lost control of the property, but not forfeited it outright. The measure “helps preserve the investment climate in Russia and reduce the outflow of capital from the country,” the agency added.
German industrial giant to take hit on Russia exit READ MORE: German industrial giant to take hit on Russia exitThe decree also establishes a legal framework that enables the Kremlin to take over more foreign assets should other countries seize Russian private or government property in their jurisdictions, or threaten the national, energy, or economic security of Russia.
Germany and Poland have so far seized an estimated $22 billion in assets belonging just to two Russian companies, Gazprom and Rosneft, according to media estimates.
How German Chancellor Angela Merkel Subjected Germany to the U.S.
Werner Rügemer, German public intellectual