Say Russia seizes U.S. assets. If they do that, nothing keeps us from doing the same thing. They very likely have more assets here than American companies have there. Throw in the EU if it decides to do the same, and Russia’s in a yet deeper hole. How long do Russian oligarchs put up with their net wealth cratered on two fronts, knowing that Putin is likely only going to recoup pennies on the dollar?
Seized Russian assets could be sold and proceeds disbursed to (1) those who’ve lost assets in Russia, and (2) the Ukranian government for current defense needs and future rebuilding. Even if a China or a Saudi Arabia tries to launder money back to Russia, they could still end up funding Russia’s declared enemy. At some point, Russia runs out of seized assets to swap; does it then start selling off the country, and if so, at what cost?
I think the real question is when the oligarchs start losing their assets back to Putin and the state and how long before they finally stand up and demand an end to things, be it the war or Putin’s reign. Yeah, I think they’re getting crammed somewhat by their assets in the West being frozen, but they’re not losing anything per se - they’re just not able to have a billionaire’s lifestyle right now. If they start losing their wealth in the mother land along with future access to more wealth, that’s a direct threat to them ad I don’t see them just rolling over and taking it.