More than 300 billion euros: Estonia wants to transfer frozen Russian assets to Ukraine

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More than 300 billion euros: Estonia wants to transfer frozen Russian assets to Ukraine

The head of the Estonian Foreign Ministry announced his intention to create a mechanism for compensating the damage caused to Ukraine as a result of the Russian aggression.

Related video < p>On Thursday, December 29, the Cabinet of Ministers of Estonia set the task for the Ministries of Justice and Foreign Affairs to work out the legal side of the issue of transferring frozen Russian assets to Ukraine. This is reported by the Estonian public broadcaster ERR.

The publication says that the issue of using Russian funds as compensation for Ukraine has been considered for a long time. However, according to Foreign Minister Urmas Reinsalu, at the moment the frozen resources of the Russian Federation are in a “suspended state”.

We are talking about 300 billion euros of reserves of the Russian Central Bank. In addition, the countries of the European Union, including Estonia, have frozen about 19 billion euros belonging to Russian oligarchs.

Urmas Reinsalu believes that politicians should develop a legal basis for the further use of this money for the post-war reconstruction of Ukraine.

“Freezing means that property, let's say, is worth it. Figuratively speaking, it is in limbo,” stated Reinsalu.

According to the minister, such a step could significantly weaken the Russian Federation. The head of the Estonian Foreign Ministry noted that the alienation of property in the EU is possible with an appropriate court decision and added that from a political point of view, this is “extremely necessary” to do.

“The international rule is that the party that caused the damage must compensate. That is, it is necessary to create a compensation mechanism,” Reinsalu said.

It is expected that the government will receive a specific list of proposals on this issue within the next month.

Focus also wrote that, according to the speaker of the Estonian Ministry of Defense Taavi Laasik, the new wave of mobilization in the Russian Federation will be weaker than the previous one. This was reported to ERR on January 2.