Putin's 'shock' as Russian money set to fund his downfall in Ukraine | Bill Browder

The speaker reflects on the 1990s in Russia, highlighting the dominance of Putin and his oligarchs who aggressively expanded their influence globally through financial means. They express surprise at the world's strong reaction to Putin's actions post the full-scale invasion of Ukraine, which led to the freezing of Russian government and oligarch assets. The speaker, Bill Browder, founder of Hermitage Capital Management, discusses his past as the largest foreign investor in Russia until his banishment for exposing corruption, and his current role in campaigning for sanctions against the Putin regime.

Bill Browder shares his personal connection with Alexei Navalny, a prominent Russian opposition leader and anti-corruption activist who was murdered while in prison. Browder describes the shock and the profound impact of Navalny's death on the Munich Security Conference, where the news became a central topic. He also discusses the importance of the Magnitsky Act, which seeks to freeze assets of Putin and his cronies, and the role Navalny played in supporting this legislation.

The focus shifts to Vladimir Kara-Murza, another key anti-Putin activist who has survived multiple poisoning attempts and is currently serving a 25-year sentence in a Siberian prison. Browder emphasizes the critical condition of Kara-Murza, who suffers from the effects of poisoning, and the urgency of securing his release. He also highlights the UK's potential role in this matter, given Kara-Murza's British citizenship, and the recent meeting between the UK Foreign Secretary and Kara-Murza's family.

Browder advocates for the confiscation of approximately $300 billion of Russian Central Bank assets held overseas, suggesting they be given directly to Ukraine for defense and reconstruction. He argues against the idea of using bonds or loans, stating that the assets should be seized outright as a clear message to Putin. Browder also addresses concerns about the potential impact on international trust in the financial system, asserting that such a move would not affect the status of reserve currencies.

The conversation concludes with a discussion on the legal and political implications of recent developments, including a landmark UK court ruling against Russia for failing to pay legal costs awarded to Yukos shareholders. Browder suggests that this could set a precedent for stripping Russia of sovereign immunity, allowing for the seizure of its assets to compensate victims. He also speculates on the potential future where Putin and his cronies may face financial repercussions for their actions.

In the aftermath of Alexei Navalny's murder, Browder underscores the increased urgency in his work, particularly the need to expedite the release of Vladimir Kara-Murza. He proposes that the confiscation of Russian assets should be accelerated and named the 'Navalny Act' as a direct consequence of Navalny's death, emphasizing the importance of this response in sending a strong message to Putin.