Tue. Jul 5th, 2022

The article “Abramovich private jet ‘effectively grounded'” (ReportMarch 19) points again to a weakness in just freezing assets of sanctioned persons.

In effect, the owners are deprived of their use or benefit, but remain legal owners and have a realistic hope they will recover the assets once sanctions are lifted. A more effective pressure would be to confiscate the assets and transfer the ownership to a “reparation fund” to help rebuild Ukraine. To slightly misquote Samuel Johnson: “When a man knows he is to be deprived of his fortune in a fortnight, it concentrates his mind wonderfully.”

Jack Helfenstein
Horgenberg, Switzerland

Source link

By admin

Leave a Reply

Your email address will not be published.