Estonia plans to seize Russian assets and deliver the funds to Ukraine

Estonia announced that it is planning to introduce a legal framework for seizing almost €20 million in Russian assets frozen in the country under the EU sanctions on Russia and deliver the funds to Ukraine, Bloomberg reported on Monday.

The legal framework is expected by the end of January, by the time the European Commission develops a bloc-wide arrangement to deal with €300 billion in Russian central-bank reserves and billions more in frozen assets of sanctioned Russian individuals.

Photo: Estonia’s Prime Minister Kaja Kallas arrives for the European Union leaders’ summit in Brussels, Belgium on June 23, 2022. REUTERS/YVES HERMAN