With the western world seizing all Russian assets, what’s the cost?

With the western world seizing all Russian assets, what’s the cost? | MICHELS

Humphrey CarterPalma17/03/2022 09:30
TW
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Squatters did not waste any time in moving into a London mansion belonging to the family of Russian billionaire Oleg Deripaska, who was placed on Britain’s sanctions list last week in response to Russia’s invasion of Ukraine. Only to then be evicted by riot police.

But, as western governments set about seizing more properties and yachts, who is going to cover the maintenance bill?

The multi-million pound yachts which have been seized in Mallorca and other parts of Spain and Europe this week require a huge amount of constant maintenance and have very large crews; the same can be said for their mansions which have staff and security, etc.

But what is the end game? Will the owners eventually be given their mansions and yachts back?

If so, I presume that these assets will be looked after in the meantime, so who is going to pay for that, western governments - the taxpayer?

If the mansions are not going to be returned to their owners, then why not let the squatters and the homeless in or, better still, turn them into centres for Ukrainian refugees? If we are going to have to pay for their upkeep, then let’s put the properties to good use.

To a certain extent the same could apply to the super yachts which have ample accommodation. Or if the former owners will never get their assets back, then sell them and pump the money into helping Ukraine.