Making transgressors pay

The arguments for and against repurposing sanctioned assets of offending governments.

Research event, Panel
2 May 2024 — 1:30PM TO 6:00PM
Chatham House

Since the start of the full-scale invasion of Ukraine in 2022, some $300 billion of Russian state-owned foreign assets have been frozen in banks across the globe. As Europe tries to step up its military and economic support to Ukraine, the question of whether these could be used to finance Ukraine’s war effort and recovery becomes more pressing.

The moral, political and ‘urgency’ arguments for asset seizure are strong. But the question of confiscation has raised questions about the impact of such a move on international financial markets.

In this in-person event, we will discuss the arguments for and against repurposing frozen state-owned Russian assets; and if the assets are seized, how should the proceeds be distributed?

Key questions:

  • What are the main outstanding financial market, legal and political concerns with respect to repurposing frozen Russian state assets?
  • How do these concerns vary according to the possible different courses of action under discussion?
  • If sanctioned assets are confiscated for use in Ukraine, how can they be used most effectively (current defence, future reconstruction)?
  • What institutional arrangements would Ukraine need to put in place in order to handle a flow of repurposed assets?

Please wait for the confirmation email before attending. Only those with a confirmation email will be permitted access.

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