Lucky Man: The top Robbery in History

I will tell the Honorable Readers of Polish thought the past of the top plunder in human history. These are assets of the Bank of Russia, which are covered by immunity in global law, which should be untouchable. And yet they weren't.

When Russia entered Ukraine on 24 February 2022, Europe was well prepared for economical war. As shortly as 4 days later, the Council of Europe decided to block the operation of the Bank of Russia. Technically, it was simple: The West banned transactions with the Russian central bank, and formally looked innocent – due to sanctions of settlement with Russia were blocked. However, this meant that the vast amounts of resources collected over the years from the sale of natural resources were frozen in western accounts, became worthless. Russia could not usage them, even to pay debts in abroad banks.

How did this happen? The US and Europe have utilized their controlled powerful tool, the global monetary system. It forces global trade participants to place surpluses in the currencies of Western countries, primarily in the dollar. Russia is simply a net exporter (Russia, export weakness and power of the Russian think Poland) and earns immense (for its economy) surpluses. In 2021 alone, exports brought Russia $493 billion, and imports cost $296 billion. These nearly 200 billion surpluses had to be placed somewhere. Like people, erstwhile they spend little than they gain – they place savings in real estate, antiques, bank accounts or stock investments. States must besides do something with their surpluses.

Although in the case of Russia it was placement in the euro area, due to the fact that it was here that the Russians felt safer. The increasing conflict with the US has led to the withdrawal from American investments and the transfer of them primarily to Europe. And here they greatly miscalculated, believing the independency of the Old Continent in strategical decisions and common sense, ordering them to keep specified favourable trade.

Of Russia's $640 billion gold-currency reserves, over 300 billion were blocked at the beginning of the Ukrainian War. All that was located in the West. In order to realise the size of this money – it is simply a year and a half of budget expenditure of the Polish state. For present this is more (investments are working, their value is increasing) – $384 billion from the reserves of the Russian central bank is arrested in the West. The vast majority are deposits in Europe. Nearly 200 billion in Belgium, where the Euroclear settlement centre is located, over 70 billion in France, in Japan 58 billion, 26 billion in Albion banks, 17 billion in Austria. Only 1 percent of these seized funds are found in the United States.

Property forfeiture, commonly referred to as confiscation or requisition, and preceded by freezing in accounts, is simply a recognised legal measurement and applied in criminal matters. Picking up cash (storaged usually in dollars) is part of the fight against the criminal world. large gangsters, like Al Capone, drug dealers from Mexico or the Philippines, were deprived of money. However, the condition is apparent – they must come from criminal activity. And this is not about Russian national bank funds.

Of course, specified a useful tool is besides utilized for political purposes. The overthrown political enemies of America, specified as Saddam Hussein, had to give their wealth to the winners. In fresh years, the number of cases of political enemies being seized is rapidly increasing, Washington uses this tool against its opponents like Iran, Venezuela or North Korea. The European Union has a much shorter practice, but it has already hit the Bank of Syria, blocking its resources.

However, earlier victims were much smaller and weaker than Russia. So plunder is powerful, so the communicative of it cannot fit into 1 short text in these pages. Therefore, to be continued...

Andrzej Szczęsniak

Think Poland, No. 41-42 (12-19.10.2025)