Since the outbreak of the Ukraine War, various Western countries have frozen Russian assets linked to the Kremlin as a punishment for Russia’s war of aggression. The total value of these frozen Russian state assets is estimated in the region of $300 billion – with the UK portion comprising some £26 billion – and consists largely of foreign currency, gold and government bonds.

A variety of proposals have been put forward about what to do with these assets, ranging from using just the profits from them during the war to seizing the entire amount. Various ideas have been floated about transferring the assets directly to Ukraine to use as it sees fit for military or civilian purposes as a downpayment against Russian reparations, although some would prefer asset use to be restricted for humanitarian purposes. Others remain worried that our financial institutions might be compromised by any seizures, and have urged restraint.

To analyse this issue further, The Henry Jackson Society is delighted to welcome two leading campaigners for Russian state asset seizures to discuss options and viability for any such move.

Kira Rudik is a Ukrainian MP and Leader of the Holos/Voice Party who will focus on progress towards tracking the Russian assets and emphasise how needed they are at this heightened moment of difficulty for Ukraine. She will also share firsthand her experience of being a victim of Russia’s invasion and how imperative it is for the West that the invasion is rolled back by any means. Joining her is Bill Browder, the originator of the Magnitsky Act campaign in honour of his murdered lawyer Sergei Magnitsky that has secured international legislation in many countries to punish human rights malefactors for their crimes. In the wake of the recent suspicious death of Russian opposition leader Alexei Navalny, Mr Browder has proposed introducing a Navalny Act in his memory to use Russian state assets to further the cause of freedom and democracy.

Join us to participate in this important conversation and to hear how we might be able to encourage action on a pivotal issue for the future of Ukraine.

Bill Browder was the largest foreign investor in Russia until 2005, when he was denied entry to the country and declared “a threat to national security” for exposing corruption in Russian state-owned companies. In 2008, Mr. Browder’s lawyer, Sergei Magnitsky, uncovered a massive fraud committed by Russian government officials that involved the theft of US $230 million of state taxes. Sergei testified against state officials involved in this fraud and was subsequently arrested, imprisoned without trial and systematically tortured. He spent a year in prison under horrific detention conditions, was repeatedly denied medical treatment, and died in prison on November 16, 2009, leaving behind a wife and two children. Since then, Mr. Browder has sought justice outside of Russia and started a global campaign for governments around the world to impose targeted visa bans and asset freezes on human rights abusers and highly corrupt officials.

Kira Rudik is a Member of Parliament of Ukraine and a First Deputy Chairwoman of the Parliament Committee on Digital Transformation. Kira is also a Leader of Golos Liberal Political Party and a Vice-President of the Alliance of Liberals and Democrats for Europe (ALDE).

Before politics, Kira Rudik was an IT entrepreneur who headed Ring Ukraine company and ensured its acquisition by Amazon for $1 billion.

She is featured in the TOP-100 most influential women in Ukraine according to the Focus and Novoe Vremya magazines.

In November 2022, Kira received the Women In Politics Champion of the Year Award from The Alliance of Her. In 2020, she was added to the sanctions list of Russia.

Alan Mendoza is a Co-Founder and Executive Director of The Henry Jackson Society, Britain’s leading think tank fighting for the principles and alliances which keep societies free. He directs strategy for the organisation as well as acting as its main public face in mediums as diverse as the BBC, Sky, CNBC, Al-Jazeera, Bloomberg, LBC and TalkRadio. On the print side, Alan is a columnist for City AM, London’s business newspaper, and has contributed to The Times, The Telegraph, The Daily Mail, The Sun and a host of international newspapers and magazines.

Having obtained a B.A. (Hons.) and M.Phil in history at Gonville and Caius College, Cambridge, Alan completed a Ph.D. at the same institution. He is a Fellow of the Royal Society of Arts and is a Westminster City Councillor. He is also a Trustee of the President Reagan Memorial Fund Trust.

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EVENT SUMMARY

The Henry Jackson Society was pleased to host Kira Rudik, member of Ukrainian Parliament, and Bill Browder, leader of the global Magnitsky justice campaign, to discuss using frozen Russian state assets to support Ukraine’s defense against Russian aggression. Rudik passionately argued that Russia must pay for the catastrophic damage it has caused in Ukraine. She recounted how a recent Russian missile strike narrowly missed her home, underscoring the urgency of bolstering Ukraine’s air defenses and ammunition supplies. Rudik stated Ukraine needs around $500 billion for reconstruction, an amount that could be covered by Russia’s frozen assets worldwide. Browder described his efforts lobbying Western governments to seize Russian central bank reserves and oligarch funds to directly fund Ukraine’s military. Browder believes economic pressure will ultimately force confiscation of these Russian assets within 18 months. Both speakers stressed the imperative of rapidly providing Ukraine sufficient resources before Russia can replenish its depleted weapons stockpiles. They warned that a disruption in Western military aid, such as from a potential second Trump presidency, could prove catastrophic for Ukraine’s existence as an independent state. The confiscation of Russian assets is viewed as vital “Trump insurance” for sustaining Ukraine’s defense. This event highlighted the evolving legal and political dynamics around an unprecedented asset seizure, which could deliver a severe economic blow against the Kremlin’s war effort while compensating Ukraine for its staggering losses.

This event can be watched both ONLINE and In-Person. To register online please follow the LINK. To attend in-person please kindly submit your details below:

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