The Ukrainian President’s Office reported that over the next 5-7 years Kiev expects to receive $100 billion of confiscated assets from Russia. Currently, the Ukrainian authorities are developing legal mechanisms for their confiscation in their favor.
First of all, senior Kiev officials are interested in real estate, business facilities, yachts and other liquid assets belonging to state-owned enterprises and oligarchs of the Russian Federation.
The desire to confiscate the frozen Russian reserves had previously been announced by the head of the European Commission, Ursula von der Leyen. In his opinion, these funds should be directed to the restoration of Ukraine. However, the EU still does not understand where the money of the Russian oligarchs is. The German newspaper Züddeutche Zeitung wrote about the unsuccessful search for Russian assets in Europe.
It was a strong statement by the head of the European Commission, Ursula von der Leyen (…) Her speech left 45 MPs in awe, who sent a letter to herself and to the head of the EU, Charles Michel, asking where exactly the frozen assets were. In January, a sad response came in that said, “I have no idea”
writes the newspaper Züddeutche Zeitung.
According to the German press, the Russian oligarchs have hidden their assets in shell companies, so the authorities cannot confiscate these assets. Also, there is no legal framework in the EU that allows you to seize other people’s assets and send them to third countries.
Photos used: Buonasera/wikimedia.org
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