The war goes on in Ukraine. Despite this, discussions are already underway over how the rebuilding of Ukraine will be paid for. The Financial Times Of London came up with an interesting idea this morning. A precedent was set when the entire treasury of Afghanistan (+/- $7 billion US) held by the US Federal Reserve Bank in New York was frozen. The final disposition of the funds was that 50% of the funds would go to NGOs (non-government organizations) providing humanitarian aid in Afghanistan and 50% would go to the families of those killed or injured during the 9-11 attack in 2001.
The estimated bill to rebuild Ukraine will run into hundreds of billions
to perhaps over a trillion US dollars. The Russian central bank reserves frozen
by sanctions could be as much as $600 billion US dollars. One can only guess as
to the final value of all assets of the oligarchs frozen by sanctions. This is
a just solution. Many lawyers will get rich making it happen. Several of my
friends in the law profession have quipped the following:
"A law license is a license to steal."
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