Friday, October 30, 2015

Russian parliament approves Damocles Sword to confiscate Western assets if necessary

When the U.S. issued sanctions against Russia in early 2014, they did so without international approval, and without a resolution from the United Nations.  In essence, the Obama administration used the dollar as an economic weapon against the Eurasian power in response to their taking the Crimea after the U.S. backed rebels unlawfully overthrew the government in Ukraine.
However, in addition to these sanctions were pressures the U.S. placed on their allies and on their vassal states in Europe and the Far East, making the sanctions a full fledged proxy war that held European businesses stuck in the middle.
And as the economic sanctions on Russia near their third year in play, on Oct. 29, Russia’s upper chamber of their legislature approved a new bill that would make it legal for the government to confiscate foreign assets held within the country.

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