The European Commission has legal grounds to use the assets of the Russian Federation for the reconstruction of Ukraine.

According to spokesperson Christian Wiegand, the European Commission has confirmed that it has developed legally acceptable options for the use of Russian assets, both private and state, for Ukraine’s reconstruction.

Wiegand explained that as of now the assets of both Russian individuals and legal entities that are subject to EU sanctions, worth about €24.1B, are frozen in the EU. Sanctions, however, do not allow for the confiscation of these assets, as this violates the law.

However, the European Commission proposes criminalizing the violation of EU restrictive measures, and relevant discussions with other EU institutions have already made significant progress. This will allow, in cases of sanction evasion, to confiscate these assets in accordance with the law, in this case, criminal law, explained the representative of the European Commission.