European Commission President Ursula von der Leyen has said that Russian assets located in relevant jurisdiction should be not only frozen, but also used for the recovery of Ukraine.
“There is a will, but from a legal perspective, this is not an easy task. We are at the beginning of the journey,” she told a press briefing at the International Expert Conference on the Recovery, Reconstruction and Modernization of Ukraine in Berlin on Tuesday.
She also recalled that a special Task Force has been set up for this purpose.
German Chancellor Olaf Scholz also described this task as unprecedented and said that this process is at the initial stage.
“We must adhere to the principles of law,” he said, following von der Leyen saying that the EU is committed to the principle of the rule of law.
In turn, Prime Minister of Ukraine Denys Shmyhal said that the seized Russian assets, the cost of which is estimated at $300-500 billion, could become the main source of financing for recovery. He also recalled that Ukraine has set up a relevant Task Force in charge of the confiscation-related issues.
Shmyhal said that Canada was the first country to make necessary amendments to the national legislation.
The Ukrainian PM also said that he has discussed the issue with his Polish counterpart Mateusz Morawiecki recently and Poland is also ready to approve necessary amendments to the legislation.
Shmyhal stressed that the confiscation of Russian assets should become one of the key points of focus of the “financial Ramstein”, which is to be created by the end of the year.