International Law and Property: New Challenges and Solutions

Property rights are traditionally considered the foundation of economic relations. However, despite their generally recognized and inviolable nature, guarantees for the protection of property have become subject to politics. International and national standards for the protection of property rights in the rapidly changing geopolitical situation are undergoing a true test of endurance. Numerous countries are adopting legislative initiatives to confiscate sovereign assets. The publicly declared goal of confiscating state assets by force is becoming a particularly cynical one. There is no doubt that such actions are eroding the centuries-old principles of the sovereign equality of states and the inviolability of their property. The assets of private individuals and government-related companies are coming under attack: their accounts are being frozen, and movable and immovable property is being seized and confiscated under far-fetched criminal pretexts. Such actions are accompanied by restrictions on other fundamental rights, including recourse to court. Of course, neither states nor private entrepreneurs can sit by idly in the face of gross violations of international and national law. What do we need to create new guarantees to protect property from the abuse of cross-border and national instruments of law?