Ukraine and Germany will study the possibility of using the frozen assets of the Russian Federation
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The leadership of Ukraine and Germany will study the legal possibilities for using Russian assets frozen in the West, follows from a joint statement by German Chancellor Olaf Scholz and Ukrainian President Volodymyr Zelensky.
The “International Register of Damage” caused to Ukraine as a result of the conflict with Russia will be presented at the Council of Europe (CE) summit on May 16-17 in Iceland, the document says.
“In the course of our efforts, we will continue to explore proportionate opportunities to use the frozen Russian assets to support the recovery of Ukraine, as well as to compensate [ущерба] in accordance with our legal systems, European law and international law”, – declared Scholz and Zelensky (TASS quote).
The statement notes that Kyiv and Berlin support the idea of the need to “increase overall pressure” on the Russian Federation with the help of sanctions. In addition, circumvention of the imposed restrictions should be prevented.
Zelensky following the results of the working visit to Germany in his Telegram channel said that Germany would continue to support Ukraine politically, militarily and financially as long as necessary.
In total, Western countries blocked 300 billion euros of reserves of the Central Bank of the Russian Federation and 19 billion euros of private funds of Russian businessmen, the head of the EC, Ursula von der Leyen, said in November 2022. At the same time, she proposed creating a structure for managing Russian assets. According to her, the blocked funds of the Russian Central Bank and the assets of Russian businessmen confiscated due to sanctions should be combined into a fund, the funds of which should be invested, and the profit from these investments should be used for compensation payments to Ukraine.
The Kremlin called the freezing of Russian assets a theft. At the end of October, the press secretary of the President of the Russian Federation Dmitry Peskov said that the blocking of assets abroad is contrary to international law.
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