Brussels backs Ukraine's legal stance on confiscating frozen Russian assets – Ukrainian official

Espreso correspondent Kateryna Halko reported this from Stefanishyna's press briefing during the "Law and Justice: Strengthening Interaction in Conditions of War" forum.

"I raised the issue of utilizing these assets. In our view, this isn’t just about freezing the Russian central bank's assets. It’s about all frozen assets under sanctions policy. We’ve established a legal position on this," Stefanishyna said.

She highlighted examples of other countries channeling sanctioned assets into state income, citing Ukraine as a potential model.

"There is already a legal framework for this in Estonia, Canada, and Latvia. We are collaborating with these countries," she added.

Stefanishyna also mentioned that the United States recently announced plans to streamline the confiscation of Russian assets.

"We’re hopeful that President Biden will take initial steps to implement this policy before his term ends," she said.

She emphasized that the Ministry of Justice will continue to advocate for this legal stance.

"The Ministry of Justice will persist in promoting the legal use of Russian assets until it becomes a reality. Our stance is clear, and it has support within Brussels' political circles. Once the necessary political will is established, the President of Ukraine will present the appropriate initiative," Stefanishyna concluded.

• In early November, President Volodymyr Zelenskyy stated that Ukraine's losses from Russian aggression amount to roughly $800 billion.
• Zelenskyy also called for the direct transfer of frozen Russian assets, valued at $300 billion, to Ukraine.