Dont trash it cash it8/11/2023 ![]() It would also avoid years of costly litigation, and free up more time to enforce other sanctions, and build cases against these oligarchs for the corruption at the root of their wealth (for which they should have been prosecuted a long time ago).īut politically, this get-out-of-jail card could undermine the very concept of sanctions and put a strain on diplomatic relations with Ukraine. Given this would exclude Russia’s central bank assets, the recovered pot might not be as significant as you might expect: but it would be a start. But how many oligarchs will come forward, if there is no incentive? And if this legislation actually paves the way for the oligarchs to pay their way out of sanctions, how feasible is that? The UK government announced new legislation that would allow sanctioned oligarchs to donate frozen funds to Ukraine, although it denied that would be done in exchange for sanctions relief. In exchange, sanctions would be lifted against them and that money would be used for Ukraine’s recovery. One proposal r umoured to be circulating among western governments is the possibility of cutting deals with the oligarchs, having them transfer part of their wealth and then denounce the Kremlin’s atrocities in Ukraine. If the goal is to help Ukraine recover, and we really want that oligarch money, there is always the option of accepting some more politically unpalatable, but legally more feasible, solutions. The question then is whether western allies are willing to bend their own rule of law to help Ukraine. But this will do relatively little on the matter of assets frozen under sanctions, as those assets don’t necessarily or provably come from illicit sources.Ġ1:29 UN nuclear chief visits Russia-controlled nuclear power plant after Kakhovka dam breach – video To address this issue, the EU has taken a more careful, legalistic approach, and proposed a directive to harmonise its member states’ laws to facilitate the confiscation of illicit proceeds. Proving corruption on the part of most oligarchs has been a challenge for decades, with the highly litigious kleptocrats engaging in lengthy and complex court battles. ![]() And even if it worked, the confiscated sum would be minimal: few sanctioned individuals, and most certainly very few oligarchs, are directly linked to the atrocities committed in Ukraine. This model is often held up as a good solution, but in reality, it is likely to meet challenges over the above concerns. Last year, Canada introduced measures to allow confiscation of sanctioned assets where there had been a breach of international peace and security, human rights violations, or acts of significant corruption. Some countries have already tried to test those boundaries. And, while the ball has started rolling on the seizure of Russian state assets, the road towards the confiscation of individuals’ assets within the boundaries of the law is still long. It is a fine balance between what is allowed under the boundaries of the law and what is acceptable from a political standpoint. Experts warn that doing so could undermine international law, human and property rights, and due process, the very things that set Ukraine’s allies apart from the Russian regime. It turns out it is one thing to freeze assets, but quite another to seize them. It will also make it easier for waste transporters to process the breaking down of non-recyclable materials and decomposable food waste.įor the past 15 years, SM Supermalls has been executing the Trash to Cash program across all its branches.But enabling the confiscation of assets, which is a criminal justice matter, to stem from a sanctions designation, which is a political decision, has proved to be a legal headache. Segregate waste at home by having a trash bin for biodegradable and non-biodegradable wastes, and separating recyclable materials. Here are a few ways to ensure that your home is helping the environment: ![]() As a proven responsible property developer and community partner, SM Prime's various Sustainability programs across its malls, residences, hotels and leisure properties promote resource conservation & environmental protection for an improved quality of life in the communities it serves," shares Perkin So, SM Supermalls SAVP for Operations.Įfforts toward creating a healthier environment should not stop here. "The International Coastal Clean Up is part of the overall SM Green Movement. ![]()
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