Who’ll benefit from seized Russian assets?

THERE is modern-day piracy unfolding globally and yet, it is ignored. After the Russian/ukraine conflict erupted, many states, mainly in the West, imposed sanctions on Russia.

A facet of the sanctions is to pursue those who are said to be close to Vladimir Putin, the so-called oligarchs whose properties are being seized globally, the most prized being their yachts.

The oligarchs have clearly acquired their wealth illegally as they are the beneficiaries of the extensive looting of state assets in Russia after the collapse of Communism. The irony is that the assets have been invested in the West, fuelling the economies of these countries, with no criticism – until Putin lost his head and invaded Ukraine.

Who will be the beneficiary of the seized assets? Are the countries ever going to return those assets to the Russian people? Probably not, which then renders the actions modern banditry.

The West is not doing anything new – it has behaved like this for decades.

DR THABISI HOEANE | Pretoria