EU’s aim is not only to freeze but also to confiscate Russian assets

The President of the European Commission Ursula von der Leyen noted on October 25, 2022, during the International Expert Conference on the Recovery, Reconstruction and Modernization of Ukraine, that the European Union set its goal not to freeze but to confiscate Russian assets in Europe due to its war against Ukraine.

Source: The President of the European Commission Ursula von der Leyen

“Certainly our goal is not so much to freeze as to seize Russian assets, that’s our job. However, it’s not that simple from a legal point of view. We protect the rule of law, but that means we have to follow the rule of law, so we have a lot of work to do to create an impeccable legal basis for this process,” said Ursula von der Leyen.

The head of the European Commission added that a special expert group had been created on this issue.

“Its purpose is not only to determine where and what is frozen but also to understand what are the legal prerequisites that can be used to confiscate Russian funds and direct them to rebuild Ukraine,” concluded the European Commission President.

See also: Ukraine can receive €18B in 2023, – EU Commission President

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