Former UK Foreign Secretary suggests confiscating Russian assets to punish Putin

The time has come to punish Putin, and the most effective way is to confiscate Russia's several hundred billion dollars worth of assets and transfer them to Ukraine.

William Hague, who served as the UK Foreign Secretary from 2010 to 2014, said in an interview with The Times, SIA reports.

The question of what to do with Russia's assets, estimated to be around 260 billion euros, frozen since the beginning of the war, is currently on the agenda.

Hague notes that, albeit reluctantly, it should be determined that, in principle, Russia's assets can be confiscated.

"I believe this is the main argument. We have already passed the stage where these assets could be returned. It would be better to use them to support Ukraine and apply tougher sanctions against Putin," he added.

There is a legal precedent for the seizure of assets, as seen in the confiscation of Iraq's assets after the invasion of Kuwait in 1990. Efforts are also being made for de-dollarization or the development of financial infrastructure that competes outside the West. If the G7 desires a compromise, a phased agreement on confiscation is possible. While preventing the peaceful resolution in Europe from being trampled is impossible, a continuous conflict is a significant cost, around 30 billion dollars every month for Russia and a sufficiently substantial figure for Ukraine. The deaths of Navalny and those defending Avdeevka should shame us all," says Hague.

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