Work on the confiscation of Russian assets for the benefit of Ukraine resumed in Estonia
The Ministries of Foreign Affairs and Justice of Estonia have returned to the question of using frozen Russian assets to help Ukraine and are working on preparing legal grounds for such a step. ERR reports this.
It is noted that last Thursday, December 29, the Cabinet of Ministers of Estonia tasked the departments with working out the legal side of the issue of confiscation of Russian assets frozen in the country. According to Estonian Foreign Minister Urmas Reinsalu, the goal is to create a basis for further use of these frozen assets to rebuild Ukraine.
“Freezing means that the property, let’s say, is standing. Figuratively speaking, it is in a suspended state. The goal should be to direct this extensive resource for recovery, to support Ukraine,” he explained.
Reinsalu is sure that creating legal conditions for this decision is necessary and will become an important precedent.
“In the long run, this will significantly weaken Russia and intimidate the aggressor. So, there is a political justification for it. Regarding the search for a legal justification, the rule in Europe now is that alienation of property is possible if there is a specific court decision. In particular, for example, in the case of criminal record keeping – confiscation”, the head of the MFA stressed.
He added that international law in general, provides for a mechanism of compensation from the side that caused the damage, and believes that “in this sense, it is legally possible, but politically it is extremely necessary to do it.”
The Estonian government is expected to receive a concrete list of proposals within a month, and further decisions will be made based on them.