Confiscating Kremlin assets and strengthening sanctions: Ukraine asks international partners to increase pressure on Russia

Ukraine asks foreign countries and their authorities to strengthen sanctions against Russia and confiscate its assets. The corresponding resolution No. 11019 was adopted in the Verkhovna Rada. 309 MPs voted in favor.

"By its actions, the Russian Federation has grossly violated the state sovereignty and territorial integrity of Ukraine within its internationally recognized borders, as well as a number of international legal acts. ... The Resolution, in particular, proposes to call on governments and parliaments of foreign countries, international organizations and parliamentary assemblies to take an active part in the implementation of the Peace Formula of President of Ukraine Volodymyr Zelenskyy," the explanatory note to the document reads.

The MPs also ask to increase sanctions pressure on Russia and ensure unconditional compliance with the sanctions already imposed on it, namely to:

• increase political and diplomatic pressure on the Russian leadership to immediately withdraw its occupation troops, armed groups and criminal organizations controlled by the Russian Federation from the entire territory of Ukraine;
• accelerate the development and implementation of legal mechanisms for the confiscation and use of frozen Russian assets, etc.

EU adopted a modest package of sanctions

At the same time, on the eve of the 2nd anniversary of Russia's full-scale invasion of Ukraine, the EU Council officially approved the 13th package of sanctions against Russia. Restrictions have been imposed on 106 individuals and 88 legal entities, targeting, in particular, the Russian military and defense sector.

Commenting on the introduction of the new package of restrictions, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that they would hit Russia hard. "These measures cause heavy losses to the Russian economy," he said.

However, Ukraine has a different opinion on the matter. On February 21, after the 13th package was approved by the ambassadors of the EU member states, Ukraine's representative to the EU, Vsevolod Chentsov, admitted that Ukraine had hoped for more.

"The 13th package is fixed, and the work on the 14th package has already started. That is why we are not relaxing, we will re-submit all our preparations and proposals to our partners... The package is modest, rather symbolic. It's good that it exists, but we will ask for more," he said.

Confiscation of Russia's assets may be legal

Meanwhile, a group of international law experts has supported the idea of confiscating the frozen assets of the Russian central bank, which amount to about $280 billion. It is assumed that these funds can be used as compensation for the damage caused to Ukraine as a result of Russia's full-scale invasion.

Experts argue that the confiscation would be legal from the point of view of international law as Russia has violated its fundamental norms. First of all, the principle of inviolability of Ukraine's territorial integrity and sovereignty.

According to Bloomberg, the opinion was signed by 10 prominent lawyers and diplomats from the United States, the United Kingdom, the EU, and Japan, including former legal adviser to the U.S. State Department under the Barack Obama administration Harold Hongju Koh and former strategic advisor to the Joe Biden administration Philip Zelikow.

Despite the fact that the analysis was requested by interested governments, including some G7 members, the authors specifically stated, "None of us is acting on behalf of sponsors or clients." However, the letter states that Koh does represent Ukraine in some international tribunals.

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