The majority of Russian assets, especially those held by the Central Bank of the Russian Federation, are now frozen in European Union countries.
Confiscation of frozen Russian assets, in particular funds of the Russian Central Bank, is possible and does not contradict international law. This was stated in a letter from a group of international experts to representatives of the Group of Seven countries. Bloomberg, which reviewed the document, writes about it on Wednesday, February 21.
“We have concluded that, under international law, it would be legal to take further measures against Russia, due to its violation of fundamental rules of international law,” the letter said.
It proposes using the assets to compensate for damages that “arise directly as a result of Russia’s illegal actions.”
The letter contains the signatures of ten international legal experts from Belgium, the United Kingdom, Germany, the Netherlands, the USA, France, and Japan. They included Yale Law School professor and former dean Harold Hongju Koh, and lawyer and diplomat Philip Zelikow of the Hoover Institution.
It is known that most of the assets of Russia, especially the Central Bank, are frozen in the countries of the European Union. In the past, it was proposed to use only the revenues from frozen Russian assets and direct them first to help Ukraine and then to post-war reconstruction. Last year, revenues reached 4.4 billion euros.
It was previously reported that Belgium will transfer aid to Ukraine regarding Russian assets.
Confiscation of assets of the Russian Federation: the first step is taken
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.