Estonian President Karis signs law on confiscation of frozen Russian assets in favour of Ukraine
On 30 May, Estonian President Alar Karis signs a law passed by the parliament allowing the use of frozen Russian assets to compensate for the damage caused by Russia to Ukraine during the war.
According to Censor.NET, this was reported by ERR.
"According to this provision, the property of only those whose involvement in the commission of an unlawful act or facilitation of an unlawful act has been established can be transferred and used as compensation for damages," Karis said.
However, the Estonian leader noted that the fact that the the assets were frozen due to international sanctions is not enough for the right to dispose of the property
According to Karis, the adopted law should be interpreted in such a way that the transfer of property applies to those who are actively involved in the war in Ukraine and violate the laws of war.
"We have to find effective ways to guarantee the right of victims of aggression to receive compensation from those responsible for causing damage," the Estonian president said.
What measures are other countries taking to confiscate frozen Russian assets?
As reported, the European Union is working on a scheme to use the proceeds of frozen Russian assets in EU countries to finance assistance to Ukraine. In February, the EU Council decided to account for such revenues separately. However, the mechanism for transferring these funds to Kyiv has yet to be finalised.
High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell estimated the proceeds from frozen Russian assets at around €3 billion a year, which are to be used for military and civilian support to Ukraine.
The President of the European Commission Ursula von der Leyen believes that the first billion euros from the proceeds of frozen Russian assets could be allocated to Ukraine as early as 1 July.
The day before, Lithuanian Foreign Minister Gabrielius Landsbergis said that it was necessary to start using the proceeds of frozen Russian assets for Ukraine's military needs as soon as possible.
90% of the proceeds from the frozen Russian assets in the European Peace Fund will be used to purchase and supply Ukraine with the necessary military equipment.
