The government discussed legal mechanisms for the confiscation of frozen Russian assets

Prime Minister of Ukraine Denys Shmyhal held a meeting with representatives of ministries, the National Bank and the State Financial Monitoring Service, during which legal mechanisms for the confiscation of frozen assets of the Russian Federation were worked out. Shmyhal reported this on his Telegram page, UNN writes.

Details

We are working with partners on a legal mechanism that will allow the confiscation of frozen Russian assets. We held a meeting of the interdepartmental working group on this issue with the participation of Deputy Prime Minister Olga Stefanishyna, NBU Head Andriy Pyshnyy, representatives of the Ministry of Finance, the Ministry of Foreign Affairs, and the State Financial Monitoring Service

The head of state also heard information on immobilized assets of the Russian Federation. He stressed the need for close cooperation with partners to confiscate these assets.

I heard up-to-date information on the aggressor’s immobilized assets in foreign jurisdictions. The ministries are tasked with actively working and communicating with partners about the need to confiscate these assets

Shmyhal also added that Ukraine is effectively using the “Economic Support of Ukraine” project to strengthen its defense and economy through profits from frozen assets.

We are currently effectively using the ERA initiative – strengthening our defense and economy through profits from frozen Russian assets. At the same time, it is important that all immobilized Russian assets are directed to the restoration of Ukraine. We are consistently working on this task

AdditionDeputy Secretary General of the European External Action Service Charles Fries said that the European Union will additionally allocate EUR 900 million for the purchase of weapons and ammunition for Ukraine from revenues from frozen Russian assets.