Twelve European countries supported the transfer of frozen Russian assets to Ukraine: details

The Government of Finland has spoken in favor of transferring frozen Russian finances to Ukraine. Given the war crimes committed by Russia and the destruction of entire communities, more and more countries around the world are calling for the transfer of seized Russian funds to Ukraine.

This was stated by the Minister of Foreign Trade and Development of Finland, Ville Tavio, 24brussels reports. In total, at least $300 billion of Russian assets have been seized in Western countries.

However, the damage caused by the terrorist state to Ukraine is much greater, at least $750 billion. After the war is over, the total amount may reach an astronomical figure, the publication notes.

In this regard, the United States is setting an example for all Western countries: Washington was the first to transfer to Ukraine part of the seized Russian funds of Russian oligarch Konstantin Malofeev. In addition, according to the US authorities, a legal mechanism should be created to transfer Russian state funds to Ukraine - the EU has also repeatedly emphasized the need for such a decision.

The crimes of the terrorist state leave no doubt as to the expediency of transferring seized Russian assets to Ukraine, according to supporters of this approach. So far, EU law does not provide legal grounds for the complete confiscation of Russian assets and their transfer to Ukraine.

Instead, however, EU countries have come up with a way to use funds from the frozen accounts of the Russian central bank for the benefit of Ukraine. The plan is to redirect the profits from Russian financial instruments in Europe to our country.

For this plan to work, the EU will also have to change its legislation. However, these changes are not as significant as in the case of confiscation. The Ukrainian Ministry of Justice expects that the European Commission will submit relevant proposals in December 2023.

The simpler legal mechanism is due to the fact that this is not Russian money itself, but the so-called windfall income that would not have been received if there had been no sanctions against Russia. However, the main goal of Ukraine, according to representatives of the Ministry of Justice, remains the complete transfer of all Russian assets.

As previously reported by OBOZ.UA, Russian oil products can bypass Western sanctions and enter the supply chain of the US Department of Defense. Thus, fuel from the terrorist country of the Russian Federation is sold to a Greek refinery that serves the US army.

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