The European Commission has proposed a plan to confiscate Russia's frozen assets to compensate for the damage it has done to Ukraine.
According to European Commission President Ursula von der Leyen, €300 billion of reserves of the Central Bank of Russia and €19 billion of Russian oligarchs were frozen in Europe. She stated that in the short term these funds could be managed by the EU and its partners. In addition, the EU proposes the creation of a specialized court, with the support of the UN, to investigate Russian war crimes and further prosecute those responsible.
At the moment, the European Commission is developing the ninth package of sanctions against Russia. Bloomberg previously wrote about EU plans to seize Russia's frozen assets to help Ukraine. According to the publication, the EU also intends to introduce secondary restrictions against individuals and legal entities that helped sanctioned persons bypass the bans.
