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Estonian parliament adopts law allowing use of Russian frozen assets (www.riigikogu.ee)

submitted 5 months ago by 0x815@feddit.de to c/europe@feddit.de

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Estonian MPs passed a law that enables the use of Russian assets frozen under international sanctions to compensate Ukraine for war damages.

The president must now promulgate the legislation for it to enter into force.

It enables assets of individuals and companies that have contributed to Russia's wrongful acts, which have been frozen under sanctions, as an advance payment for damages owed by Russia to Ukraine.

To seize Russian assets, Estonia would need to receive a request, and the connection of their owner to illegal acts must be sufficiently proven. The asset owner can challenge their use for Ukraine in Estonian courts.

Estonia's move is seen as an important first step as the vast majority of Russia's frozen and largely euro-denominated sovereign assets, which are worth €300 billion, are located in Europe.

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[–] Dasus@lemmy.world 1 points 5 months ago

Yeah people really don't seem to understand this.

That's the exact reason we're trying to rush Ukraine to the EU, so we could tell Putler that continued aggression will be seen as an act of hostility towards the entire Union, and respond appropriately.