Why would we need reparations bonds at all? Why can't we start with "Putin isn't going to honour the bonds anyway" and go directly to "we will simply cancel out the debt we owe to Russia, and replace it with a debt we owe to Ukraine"? The West can then honour this debt by paying in weapons or whatever else.
The problem is just the timing issue. While we can posit today a valid Ukrainian money-claim on Russia (Russia owes Ukraine war damages), it’s impossible to say Russia has defaulted on that debt until the war is over. The only way, in coherent money terms, to turn the western allies’ debt to Russia into a debt to Ukraine is for Russia both to owe Ukraine and to default. And Russia cannot default until (a) the war ends (b) an international court awards reparations to Ukraine and (c) Russia refuses to pay. In money terms, of course *nothing* prevents western allies from sending money (or weapons) to Ukraine right now. But they cannot solve the problem of their lack of political will by pretending to seize something they don’t have.
Can I buy a reparation bond to help? My only comment is to assert that, indeed, there are no good JJ Abrams movies
Why would we need reparations bonds at all? Why can't we start with "Putin isn't going to honour the bonds anyway" and go directly to "we will simply cancel out the debt we owe to Russia, and replace it with a debt we owe to Ukraine"? The West can then honour this debt by paying in weapons or whatever else.
The problem is just the timing issue. While we can posit today a valid Ukrainian money-claim on Russia (Russia owes Ukraine war damages), it’s impossible to say Russia has defaulted on that debt until the war is over. The only way, in coherent money terms, to turn the western allies’ debt to Russia into a debt to Ukraine is for Russia both to owe Ukraine and to default. And Russia cannot default until (a) the war ends (b) an international court awards reparations to Ukraine and (c) Russia refuses to pay. In money terms, of course *nothing* prevents western allies from sending money (or weapons) to Ukraine right now. But they cannot solve the problem of their lack of political will by pretending to seize something they don’t have.