All Russian Citizens to be Banned from Owning Property in the EU

But I thought these laws would only apply to billionaires?

RT:

The European Commission (EC) has proposed to stop property deals with Russian citizens, residents and entities, Bloomberg reported on Thursday, citing official documents. The measure is part of the EU’s sixth package of anti-Russia sanctions.

It would reportedly prohibit the sale or transfer, directly or indirectly, of “ownership rights in immovable property located within the territory of the Union or units in collective investment undertakings providing exposure to such immovable property.”

The prohibition applies to Russians who are not EU citizens and lack a residency permit in EU member states, the report says. It doesn’t apply to those who carry citizenship or residency in the European Economic Area or Switzerland.

Of course, normal Russians are also going to have their property seized, so I don’t know why any of them would want to buy property in the EU or US.

RT:

Russian assets that have been frozen in the EU as part of sanctions against Moscow over the conflict with Kiev should be seized and allocated for the reconstruction of Ukraine, European Council President Charles Michel said on Thursday.

“I’m absolutely convinced that this is extremely important not only to freeze assets, but also to make it possible to confiscate them, to make them available for rebuilding the country. I’m personally convinced,” Michel insisted in an interview with Interfax-Ukraine news agency.

He revealed that he had already told the Council’s legal service to come up with “some possible ideas in order to find a legal solution in line with the principles of the rule of law, that would facilitate and make possible the confiscation of the assets of the people who are sanctioned by the EU or by other countries in the world.”

Acting in such a manner should be “a question of fairness, a question of justice” for Brussels, he added.

However, Michel acknowledged that implementing his plan on a “legal level is not so simple.”

It seems pretty simple. You’ve already done it. There is no law anymore.

The totally callous way in which private property rights have been tossed aside without any discussion is really one of the most shocking things to come out of this anti-Russian war.

It’s amazing to me that people don’t seem to be aware that property rights are the basis for the entire system of the West and if you just start seizing people’s property without even accusing them of a specific crime, you have undermined the entire concept of law and order.

Obviously, if Russians can have their property arbitrarily seized by the state because they’ve been declared enemies of the state – without any form of due process – then this can happen to anyone.

They are going to start declaring anyone they don’t like an “enemy of the state” and seizing their property.