The US explained the right to give frozen Russian assets to Ukraine
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NYT: Biden may give Kyiv frozen Russian assets under 1977 law
United States President Joe Biden has the right to give Ukraine frozen Russian assets, writes The New York Times.
Professor Larry Tribe’s report suggests that the American leader has sufficient powers under the International Emergency Economic Powers Act (IEEPA) of 1977. The relevant law directly states that the president has the right to regulate the transfer of property from one entity to another.
These powers relate to the transfer of “any right, power or privilege” over property in which a foreign country has an interest and which is subject to U.S. jurisdiction, the report notes.
In international law, as the Tribe Report highlights, there is a clear doctrine of countermeasures that are lawful because the action is taken against another state for an internationally wrongful act. Violators of international law do not have the right to veto punishment for their violations, the professor shared the details.
Earlier, the United States assessed the amount of blocked Russian assets. According to the US Treasury, Russian sovereign assets frozen by the West are tentatively estimated at $280 billion.
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