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re: Is there a single instance where sanctions worked?
Posted on 11/25/23 at 7:02 am to Geekboy
Posted on 11/25/23 at 7:02 am to Geekboy
quote:
Remembering all the sanctions put on Russia when they invaded Ukraine. Seems like they didn’t even make a dent.
I’m sure they put the squeeze on them in certain ways temporarily until they found a workaround. Trading in other currencies, changing banks for credit etc.
But it probably enriched some folks as well. If you look at the all the seized yachts etc for example, those were ultimately sold to private parties. Also anonymously from what I’ve read. Bank accounts were tapped as sanctioned although I’m unsure what they did with those monies.
1
Posted on 11/25/23 at 9:36 pm to idlewatcher
quote:
But it probably enriched some folks as well. If you look at the all the seized yachts etc for example, those were ultimately sold to private parties. Also anonymously from what I’ve read. Bank accounts were tapped as sanctioned although I’m unsure what they did with those monies.
Accounts with an owner that is a sanctioned party are frozen in an interest bearing account at whatever institution it was held at (when/if the sanctions are lifted the original value plus interest are returned to the owner).
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