The head of the European Commission reported that a special expert group has already been created on this issue.
Russian assets in the EU want to be confiscated / photo REUTERS
The European Union sets its goal not to freeze, but to confiscate Russian assets in Europe.
About this stated head of the European Commission Ursula von der Leyen at the conference of international aid donors for Ukraine in Berlin.
“Certainly our goal is not so much to freeze as to seize assets, that’s our job. However, it’s not that simple from a legal point of view. We protect the rule of law, but that means we have to follow the rule of law, so we have a lot of work to do to to create an impeccable legal basis for this process,” she said.
The head of the European Commission added that a special expert group has been created on this issue.
“Its goal is not only to determine where and what is frozen, but also to understand what are the legal prerequisites that can be used to confiscate funds and direct them to restore Ukraine,” she said.
Russian invasion of Ukraine: economic consequences
In September, Minister of Justice Denys Malyuska noted that Ukraine will demand at least $300 billion in reparations from Russia for damages caused as a result of the Russian invasion.
Ukraine’s losses from the Russian invasion are estimated to be much higher, but the amount named by Malyuska corresponds to the size of the frozen assets of the Bank of Russia in the G7 countries.
Earlier, Deputy Minister of Justice of Ukraine Iryna Mudra stated that Ukraine has no prospects of receiving reparations from Russia in international courts. After all, Russia announced its withdrawal from the Council of Europe and established at the level of its legislation that decisions made by the ECtHR after March 15, 2022, will not be implemented in the country.
She added that the Russian funds confiscated today will not be enough to restore Ukraine.