Political scientist: possible confiscation of Russian assets could undermine faith in the dollar in the world

The possible confiscation of Russian assets in Western countries could become a rather dangerous precedent, as well as undermine faith in the dollar in the world. This was stated by REN TV political scientist Pavel Ryzhevsky.

“A rather dangerous precedent is being created, because in this case they may take active retaliatory measures. The seizure of some Russian accounts could also undermine faith in the dollar in general.”noted Ryzhevsky.

He suggested that if the West were to confiscate Russian assets, Moscow would respond and foreign countries would stop holding assets in US banks or making investments.

“Foreign states may stop storing or making investments in American banks altogether, fearing, again, that some foreign assets will be confiscated under the same scheme. That is, this starts a process, such distrust. It already exists, but the talk about confiscation are fraught for the confiscators themselves, because they can reverse the attitude towards at least the American system, American assets”says the political scientist.

Pavel Ryzhevsky also added that the confiscation of private assets of the Russian Federation will be even more flagrant than Russian state funds.

“This is an even more blatant, outrageous thing, because really, what is going on here is not even an anti-state policy, but an anti-people one, in the sense that citizens are being oppressed. That is, such lofty postulates as the protection of private law, freedom of private life, inviolability are “everything will be trampled upon. Now, if they really decide to do this, then this will be an unprecedented case when it is no longer even states, but private people who are oppressed en masse”said the expert.

In his opinion, this could become a signal for foreign investors not to invest their funds in Western countries. That is why Western countries at the moment may not make a final decision on the confiscation of Russian assets.

“This will also be a fairly serious signal for investments, investors, the world community, that in these regions there is legislation and a government that can take away even private assets, despite the rights, laws and obligations. That is, this will be further undermining, including for investment. Therefore, they (West. – Approx. REN TV), they are probably in no hurry with this decision, confiscations”“, concluded Pavel Ryzhevsky.

It is worth noting that the final decision on the confiscation of Russian assets has not yet been made. Since the beginning of March last year, the European Union has been studying “opportunities” to confiscate Moscow’s blocked assets. On February 8, Germany noted that in case of “success” they plan to transfer confiscated Russian assets to the Kyiv regime.

Earlier it was also reported that the Federal Prosecutor General’s Office plans to seize part of Russian assets worth more than 720 million euros and replenish the state budget with them.

Let us remind you that after the start of the special operation to protect Donbass, Western countries introduced tough anti-Russian sanctions. For example, they froze about half of Moscow’s foreign exchange reserves—approximately $300 billion in assets of the Central Bank of Russia and up to $20 billion in European assets of entrepreneurs from the Russian Federation.