This is the CBS Island World. I'm John Bachelor. The Russian economy under sanctions.

Michael Berenstam of the Hoover Institution is here to watch a story that looks obvious

but then again gets very complicated.

Keith within these last days, U.S. Secretary of State Anthony Blinken said

Washington plans to seize Russian assets in the United States and use them to help fund

Ukraine's reconstruction. Full stop. At the same time Ursula Vanduline, who is the

president of the European Commission running for re-election,

announces that the EU will use the interest on the frozen Russian assets

in order to help reconstruct Ukraine. Just those two items and then I come to

the Russian response so far, at least it looks like a response, the Russians plan to

seize assets too. This becomes a seizure day, a seizure

opportunity. They're looking to seize three 700 million euros from your credit, an Italian bank, Deutsche Bank, a German bank, and

Commerce Bank, a German bank.

Michael, a very good evening to you.

We're going to seize them, they're going to seize us. This doesn't add up. How are they going to seize? I thought everybody was warning that's a bad idea.

These are two big stories and two different stories.

So the first story is about the frozen Russian assets,

which they try the United States, the European Union,

the G7, and and other countries Japan supports it.

They are trying to use it and utilize it somehow to make a steady flow of financing for

Ukraine because we remember the 50 billion euros was stuck in the European Union

for several months and we remember that 60.6 billion dollars were stuck in the United States

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