Russian law expert: The world needs new standards of international law

MOSCOW, March 22 (YPA) – Yaroslav Bogdanov, president of Fund for Protection of Investors’ Rights in Foreign States called on his country to raise the issue of new standards of international law because of the deteriorating situation.

“It makes sense to raise a question about the deterioration of international law, to point out that legal proceedings by our Western partners within the framework of the law are not permissible, Yaroslav Bogdanov said when asked about possible actions by Russia in response to the freezing of Russian financial assets by the United States and Western countries.

He stressed on the need to develop new standards, including with the help of Russian law institutions and international law that accompany the contemporary world.

Western countries imposed new sanctions against Russia due to its special military operation in Ukraine.

In particular, Russia’s gold and foreign exchange reserves (assets) were frozen, according to the Russian Ministry of Finance, amounting to about $300 billion, as well as the external assets of large Russian companies and accounts and real estate belonging to Russian citizens.

E.M