Tag

Seizure Of Assets

All articles tagged with #seizure of assets

politics2 years ago•4 min saved

"NY AG Threatens Seizure of Trump's Assets Over Fraud Verdict"

New York Attorney General Letitia James is prepared to seize former President Donald Trump’s properties if he can’t pay a nearly $355 million fine in the civil fraud case against him and his company, as questions swirl over how Trump will pay the sum when the amount he owes now exceeds his estimated cash in the bank. Trump has heavily opposed the ruling against him and is expected to appeal it, but in the meantime, he may have to put up cash into a court-controlled account or seek an appeals bond. With interest accruing at a rate of nine percent per year, Trump's fine continues to grow, and it remains to be seen how he will comply with the payment.

via Forbes|

#civil-fraud-case #donald-trump #letitia-james

international-politics2 years ago•2 min saved

International Pressure Mounts to Transfer Frozen Russian Assets to Aid Ukraine

The Biden administration is exploring the possibility of seizing over $300 billion in Russian central bank assets held in Western nations to provide financial support for Ukraine's war effort. While there were initial legal concerns, discussions with allies and support for legislation in Congress have given the administration optimism that it could obtain the necessary authority. Talks among finance ministers, central bankers, diplomats, and lawyers have intensified, with a deadline set for February 24 to develop a strategy.

via The New York Times|

#biden-administration #financial-support #international-politics

politics3 years ago•5 min saved

"Ukraine's $411 Billion Reconstruction Cost Sparks Call for Russia to Pay Up"

As the cost of rebuilding war-torn Ukraine reaches $411 billion, the idea of confiscating the $300 billion in Russian Central Bank assets frozen by Western banks gains support. The European Union has already expressed its desire to use the Kremlin's bankroll to pay for reconstruction in Ukraine. However, some officials, including the US Treasury Secretary, have warned of legal obstacles and potential side effects, such as undermining faith in the dollar and eroding faith in the system of international laws and agreements. Despite concerns, some experts argue that seizing Russia's reserves is necessary as the cost of rebuilding Ukraine far outstrips the amount that even wealthy allies may be willing to give.

via The New York Times|

#international-law #politics #reconstruction