What do you do with 191bn frozen euros owned by Russia?
The question that now confronts Western policymakers
In economic terms, an asset has value because an owner might derive future benefits from it. Some assets, like cryptocurrencies, require a collective belief in those benefits. Others, like wine, will undeniably provide future pleasure, such as the ability to savour a 1974 Château Margaux. Still others, like American Treasuries, represent a claim on the government of the strongest economy in the world, backed by a formidable legal system.
Explore more
This article appeared in the Finance & economics section of the print edition under the headline “Treasure hunters”
Finance & economics March 2nd 2024
- Stockmarkets are booming. But the good times are unlikely to last
- Are passive funds to blame for market mania?
- Activist investing is no longer the preserve of hedge-fund sharks
- How Trump and Biden have failed to cut ties with China
- Uranium prices are soaring. Investors should be careful
- What do you do with 191bn frozen euros owned by Russia?
Discover more
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith