EU to be affected by confiscation of Russian assets — expert

PARIS: Europe will be affected by the confiscation of Russian assets but it does not concern the US much, Professor of Economy and Law of HE...


PARIS: Europe will be affected by the confiscation of Russian assets but it does not concern the US much, Professor of Economy and Law of HEC Paris Armin Steinbach told Le Figaro newspaper.

"While the US has little interest at stake, then it will be the shot in the foot for the European Union," the expert said.

Moscow would resort in its turn to such measures that would cover the European countries in the first instance, Steinbach noted. "Russia’s steps in response to such confiscation would be mainly directed against Europe," the expert said. "At least 200 bln euro of Russian assets are in the EU. This sum is much higher than Russian funds kept in the US," he noted.

Furthermore, the confiscation of Russian assets would prompt investors to turn away from the EU because of its failure to observe property rights. "This, by the way, is not much of concern for such dominating economic power as the US," Steinbach said.

The European Commission approved earlier the proposal to use revenues from frozen Russian funds to help Kiev. First allocations can be made as early as in July.


-News Feed

COMMENTS


*

Name

AROUND THE GLOBE,4231,business,74,BY READERS,479,FEATURE,289,GLOBE,16,KERALA,13,Movie,327,s,1,SPECIAL STORY,394,TAMILNADU,3,TOP STORY,4951,TRAVEL,8,
ltr
item
Local Glob: EU to be affected by confiscation of Russian assets — expert
EU to be affected by confiscation of Russian assets — expert
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoP5cHqD0u5mzWGIefGGVWc__9vnRYDlnF8YoM3KXAlZhv7F73txC-jL8mnJnev0nL5c-ZkafvEELlonOqTThRYelgv-vUzs2VAwrvodR5f9FSV40Mk3MfjdJOSRH7vFQ19y9CakjS0h_1msvKYAaA1G3rP5mcn90-AFD-0Lf-XnCuJb8p9qJywsFvneNR/s320/eu.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoP5cHqD0u5mzWGIefGGVWc__9vnRYDlnF8YoM3KXAlZhv7F73txC-jL8mnJnev0nL5c-ZkafvEELlonOqTThRYelgv-vUzs2VAwrvodR5f9FSV40Mk3MfjdJOSRH7vFQ19y9CakjS0h_1msvKYAaA1G3rP5mcn90-AFD-0Lf-XnCuJb8p9qJywsFvneNR/s72-c/eu.jpg
Local Glob
http://www.localglob.com/2024/04/eu-to-be-affected-by-confiscation-of.html
http://www.localglob.com/
http://www.localglob.com/
http://www.localglob.com/2024/04/eu-to-be-affected-by-confiscation-of.html
true
8255692317570297677
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy