The arrest of Russian assets in favor of Ukraine: Estonia made an unprecedented step - the media

According to journalists, Estonia intends to submit a plan at a time when the European Commission will develop a common block on how to dispose of frozen Russian assets. Estonia plans this month to submit a legal plan for the arrest of Russian assets and a scheme for their transfer in favor of Ukraine. About it reports Bloomberg. Estonia was the first of the European Union countries to take such a step on financial sanctions against the Russian Federation.

Back in December, the official Tallinn instructed the profile ministries to develop a plan for confiscation of assets of Russia. The publication notes that the legislative framework will be created by the end of January this year.

Estonia intends to submit a plan at a time when the European Commission will develop a universal block on how to dispose of € 300 billion in the reserves of the Central Bank of the Russian Federation and another billions of frozen assets of Russian persons under sanctions. "Members of the European Union need to continue their work on the realization of frozen assets of Russia,"-commented the situation by the Prime Minister of Estonia Kai Callas.

According to financial experts, frozen funds in the accounts of Russians in Estonia are almost 20 million euros. We will remind, in early January 2023 it became known that Germany is ready to transfer to Ukraine confiscated Russian assets. According to journalists, such events are now discussed not only in Germany, but also in the European Union as well as in the US. However, the legislation of all countries faces problems when it comes to confiscation of foreign assets.