Since the outbreak of the Russian-Ukrainian conflict, the West has frozen Russia's overseas assets of more than US$300 billion. However, although Europe and the United States are very greedy for this money, how to reasonably and legally divide it up is always a problem.
However, as the European energy and inflation crisis intensifies, Europe and the United States seem to be no longer ready to be reserved, but instead seeks various ways to annex these assets that belong to Russia.
Just on November 22, the US media politico suddenly released an internal document of European Commission . The content of the document is to study how to confiscate overseas assets held by the Russian government and individuals through legal forms to better pay for funds to rebuild Ukraine.
According to the published documents, EU is preparing to explore how to effectively use these frozen assets through legal means through legal means through strengthening the method of tracking, identification and management of assets as much as possible under the framework of international law . And these assets include the $300 billion assets frozen by the Russian Central Bank in the West, as well as the assets and income of individuals and entities on the sanctions list.
This document from the EU, although it is only a preliminary study, sends a dangerous signal: That is, Western society has begun to prepare to take action on the ownership of assets of other countries in Europe and the United States.
For a long time, has the most core element in the market economy framework advocated by the West, which is that recognizes and protects private property rights . In other words, the concept of "private property is inviolable" and the "contract spirit" have formed the main foundation of Western society and supported the operation of the European and American market system. It is precisely because of this basis that in the current international system and the international treaty , it also clearly stated that it is necessary to protect the sovereign assets of all countries overseas.
However, this document from the EU is undoubtedly overturning the West's basis for protecting private property rights, and publicly destroying the international system that the West once participated in creating. and prove that the so-called "rules-based international order " in Europe and the United States is completely a unilateralist pattern with " Western-centered " as the core.
If the EU's behavior succeeds, it means that in the future, any investment in the West by countries in the world, whether it is national or individual behavior, may become a piece of meat in their hands and a piece of meat in their mouths as international politics changes. In the short term, the impact is undoubtedly huge. After all, the total investment of countries in the West is calculated in trillions of dollars, and it is impossible to transfer to other markets in the short term, so this move is comparable to a "financial nuclear bomb."
However, although everything has a negative side, we must also see the positive side. Although the actions of Europe and the United States are almost hysterical and will help consolidate the Western order in the short term, in the long run, this undoubtedly weakens its own credibility and accelerates the pace of more countries reducing their dependence on the Western financial system. This is undoubtedly a positive for building a multipolar world.
For us, as Western attitudes gradually become difficult to move towards each other, the problems facing Russia may also appear on our own. While we are seeking to diversify foreign exchange reserves , reducing dependence on the Western financial system, we accelerate the internationalization and digitalization of the RMB, and create a new payment system that bypasses the European and American banking systems. This is also a very necessary .
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