The Saudis have evaluated this correctly. The national assets of a sovereign country which are held under fiduciary duty should not be confiscated. Neither Russia or the EU/USA have declared war against each other and so there is no basis for the confiscation and repurposing of Russian assets. Confiscation would set off alarm bells in most of the nations of the world who hold national assets in the EU or the USA. What will be the fallout from any confiscation of another country’s funds? I don’t believe any good will come of it. Who is going to trust a country or countries that breach their fiduciary duties to satisfy some short-term political policy?
