JRL NEWSWATCH: “EU Says It Can’t Seize Frozen Russian Central-Bank Assets for Ukraine; Brussels hopes to set aside a portion of the funds to pay for Ukraine’s reconstruction” – WSJ

EU Map adapted from cia.gov image

“… Pressure had been building … for Brussels to come up with ways to seize Russian assets and hold top Russian leaders accountable for the war [in Ukraine]. European Commission officials … said that because of … state immunity, they were unable to confiscate central-bank assets, but were now proposing that member states and their international partners establish a fund to manage the liquid assets and set aside profits from those investments for Ukraine’s rebuilding …. The Commission also said it hopes to use funds frozen from its sanctions against Russian oligarchs to help Ukraine. … [M]ember states [reportedly] have frozen 19 billion euros in oligarch assets …. To seize the money, member states have to prove the oligarchs have committed a crime. The EU recently won approval to make sanctions avoidance an EU crime. …. However, the legislation won’t be retroactive …. Wednesday’s proposals to create a fund to contribute to the rebuilding campaign and to try Russian officials come amid a number of concurrent efforts to deliver justice for victims of atrocities in Ukraine. Ukrainian prosecutors say they have identified tens of thousands of suspected war crimes ….”

Click here for: “EU Says It Can’t Seize Frozen Russian Central-Bank Assets for Ukraine; Brussels hopes to set aside a portion of the funds to pay for Ukraine’s reconstruction” – Wall Street Journal/ Laurence Norman


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