About past, present and future of Ukraine

Main Business — In Europe, €37 billion of private and €208 billion of state Russian assets have been frozen

Business

In Europe, €37 billion of private and €208 billion of state Russian assets have been frozen

02 Apr, 2024
153
In Europe, €37 billion of private and €208 billion of state Russian assets have been frozen

Share this article

The European Union is working on how to utilize the frozen Russian assets - €37 billion of private and €208 billion of state-owned - to compensate for the damages caused by Russian aggression. This was stated by the European Commissioner for Justice, Didier Reynders, during a concluding press conference after the international conference "Justice for Ukraine" in The Hague.

"We will continue to work on the issue of financing reparations because it is important for Russia to pay for compensating the damages. And we are working on this in all our discussions regarding Russian assets, whether private or state-owned. In Europe, we have €37 billion in private assets and over €208 billion in state-owned assets," he said.

Reynders expressed hope for the "swift adoption of recent proposals on the use of proceeds from immobilized Russian assets" for Ukraine's needs in its fight against the Russian aggressor. According to his estimation, these proceeds could amount to around €2-3 billion per year.

The Eurocommissioner emphasized that with the launch of submitting claims to the Registry of Losses caused by the aggression of the Russian Federation against Ukraine, "Ukrainian citizens who have suffered human rights violations or become victims of serious violations of international humanitarian law are one step closer to reparations."

"And this registry is the first step because now we need to move towards the Commission on Compensation for Losses, which many participants expressed support for today," he said.

The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...