Russia’s Frozen Sovereign Assets Must Be Confiscated Now

Eugene Czolij

Kyiv Post

In response to Russia’s all-out war against Ukraine, launched on Feb. 24, 2022, Western countries imposed various sanctions against Russia, including an asset freeze. It is estimated that over $300 billion of Russia’s Central Bank assets abroad have been frozen.

The vast majority of these Russian sovereign assets are still frozen within the European Union.

The European Union indicated that these measures were “designed to achieve the EU policy objective of ending Russia’s war of aggression against Ukraine, through maximizing pressure on Russia and using all tools available to diminish Russia’s ability to wage its illegal war of aggression.” The other Western countries that froze Russian sovereign assets had a similar objective.

This objective has not yet been reached, and the consequences are dramatic.

Kyiv Post