Repurposing frozen Russian sovereign assets for the support and reconstruction of Ukraine a legal assessment
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| Publication date | 10-2024 |
| Journal | Journal of Strategic Trade Control |
| Volume | Issue number | 2 |
| Number of pages | 22 |
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| Abstract |
The sanctions imposed on the Russian Federation following its further invasion of Ukraine in 2022 include measures such as the seizing of goods and freezing of assets. As the war between Russia and Ukraine grinds on, the call to confiscate these goods and assets, and use the proceeds for the recovery and reconstruction of Ukraine, are growing stronger. However, this endeavor is not without legal challenges, particularly concerning the repurposing of frozen Russian sovereign assets, such as the exchange reserves of the Central Bank of Russia, for which there is no clear basis under international law. Based on a legal assessment, the author argues that repurposing these assets, even if such an action does not fully meet the criteria to be classified as a third-party countermeasure, can still be justified as an in extremis measure given the exceptional circumstances of the current situation, provided certain conditions are satisfied. Such an in extremis measure cannot be considered a rule of customary international law as state practice is not sufficiently widespread, representative, and consistent and opinio juris is still lacking.
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| Document type | Article |
| Language | English |
| Published at | https://doi.org/10.25518/2952-7597.142 |
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