The President of the European Commission Ursula von der Leyen noted on November 30, 2022, that Brussels, together with its partners, would develop a plan to confiscate frozen Russian assets, in order to then transfer them to the reconstruction of Ukraine and to compensate for the damage caused by the Russian war.
Source: The President of the European Commission Ursula von der Leyen
“Russia must also pay financially for the devastation that it caused. The damage suffered by Ukraine is estimated at 600 billion euros. Russia and its oligarchs have to compensate Ukraine for the damage and cover the costs for rebuilding the country. And we have the means to make Russia pay. We have blocked 300 billion euros of the Russian Central Bank reserves and we have frozen 19 billion euros of Russian oligarchs’ money,” Ursula von der Leyen said.
She noted that in the short term, the EU could, together with its partners, create a structure for managing these funds and investing them.
“We would then use the proceeds for Ukraine. And once the sanctions are lifted, these funds should be used so that Russia pays full compensation for the damages caused to Ukraine,” the President of the European Commission emphasized.
In addition, the European Union will work with the ICC and help set up a specialized court to try Russia’s crimes.
See also: European Council added the circumvention of sanctions against Russia to the list of crimes
