What are we waiting for ?
I guess - coordination among the western governments - as if only some participate, those that don't might gain from future investments from bullying autocracies. Also, there may be reciprocal losses whose impacts would be unbalanced.
But it seems to me the risks of setting such precedent are far outweighed by the risk of increasing irrelevance for our democratic values in a world of increasing autocracy, if we let p***n and team get away without paying for such destruction.
Maybe there is some way to do this incrementally, to provide more motivation to depose the tsar, stop, and quit, sooner rather than later?
Maybe so. But can anybody tell us, what fraction of this big sum is private wealth, rather than government assets ? If it includes items like mansions in london and french riviera the value could be much less in a fire-sale - only so many sheikhs to take over, and they might get worried too. So the "local rich" might hope to pick up bargains.