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Bulgarian MPs propose a bill to freeze Russian assets

23 January, 2024 Tuesday
11:40

On Monday, January 22, deputies introduced a bill to the Bulgarian parliament that provides for the freezing of Russian assets

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Novinite reports.

It is noted that the bill was proposed by MPs from the We Continue the Change - Democratic Bulgaria (WCC-DB) party Ivailo Mirchev and Nadezhda Yordanova.

The draft law provides for the freezing of Russian property owned by persons subject to sanctions, including the return of the Kamchia sanitary rehabilitation complex to the country's ownership.

"The draft law, developed against the backdrop of Russia's ongoing war in Ukraine, is aimed at ensuring Bulgaria's compliance with international restrictive measures," the statement said.

The bill also contains provisions on maintaining a public list of sanctioned persons on the website of the Bulgarian Ministry of Foreign Affairs to protect the rights of third parties.

The MPs emphasized that they count on the support of other parliamentary groups.

What is known about the confiscation of Russian assets

On November 30, the US Senate introduced a bill to confiscate Russian assets. On January 11, the Biden administration supported the confiscation of Russian assets for transfer to Ukraine.

Meanwhile, the European Commission has a plan to raise €15 billion from Russia's frozen assets to provide financial assistance to Ukraine.

At the same time, Russia has estimated that the West could lose assets and investments worth at least $288 billion if it confiscates frozen Russian assets to help rebuild Ukraine, and said Moscow would retaliate.

On January 22, it was reported that EU foreign ministers were approaching a solution to the issue of how to use the frozen Russian assets.

Later, Belgian Ambassador to the United States Jean-Arthur Regibeau said that Western countries should make a collective decision to confiscate frozen Russian funds, most of which are stored in the Brussels-based Euroclear settlement center.

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