In Trying to Seize Russian Assets, the US is Taking a Page from Chabad

Jewish Telegraphic Agency
May 16, 2022

Nicholas O'Donnell was quoted in the article "In Trying to Seize Russian Assets, the US is Taking a Page from Chabad," published by the Jewish Telegraphic Agency on May 16, 2022.

The article discusses an effort by the United States, as part of its economic sanctions against Russia for invading Ukraine, to seize over $165 million in assets from the Russian government that are owed to Chabad-Lubavitch, the Brooklyn-based Hasidic movement. The funds owed stem from a U.S. federal court ruling that imposed a daily fine on Russia for its failure to return a collection of sacred texts and documents taken from Chabad after the Russian Revolution, and which the Kremlin has kept since the Holocaust. Obtaining those assets from Russia, as Chabad has been trying to do for many years, will be a challenge.

"It's hard especially in this case because the foreign sovereign, Russia, is acting in bad faith," Nick says. "They are hiding assets to avoid paying the money that they owe."

"I'm not sure the U.S. government wants to create a situation where they seize a whole bunch of money, and then a whole bunch of other people who claim to have been wronged by Russia — which is a very, very long list — say they should be getting some or all of the money," he continues.

Related People

Related Practices

Jump to Page