A Russian court has ordered that Deutsche Bank’s and Commerzbank’s assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed.
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Im not gonna cry for any company that did not extricate itself since crimea. There have been butloads of time and a goodly amount to do it slowly and slyly.
Russia blinked first, so now the West can seize all Russian assets instead of keeping them frozen?
Nah, we’re gonna play by the rules with bad actors who only abuse it. That’s how we’ll win, right? Because all the fairy tales said the good guys win, right?
In the end Russia will see the error of their ways, a unicorn will fly out of my ass while shitting rainbows and everything will be good.
Well there is something to be said for the rule of law, no?
I would suggest that the EU gets their ass in Gear and outlines a law that (narrowly) defines if and when frozen assets can be seized. For all I care they make a law specifying this time as a limited exception (but I could imagine several high level crimes like warcrimes could be added). Get it done.
I’d suggest adding a provision that if you want the frozen assets back you have to be personally present for a court hearing.
The banks were among the guarantor lenders under a contract for the construction of a gas processing plant in Russia with Germany’s Linde, which was terminated due to Western sanctions.
Why the heck was that money still there in the first place? If a company still has assets in Russia, F them.
Peanuts
Fossil fuel enabling capital is almost never peanuts, but yeah, some hundred million is not gonna change a lot.
Western fossil capital sheds a tear, Russian regime laughs in double standard and nothing happened. The Russian invasion continues, cheap fossil fuels get distributed, capital concentrates.
