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Posted On

05
May
2022

Michel: assets of Russians frozen by sanctions should be confiscated to restore Ukraine

BRUSSELS. May 5 (Interfax-Ukraine) – President of the European Council Charles Michel advocates the confiscation of the assets of Russians who are under sanctions, with the aim of further using them to restore the damage caused by Russia in the war it is waging against Ukraine, the President voiced this position in an exclusive interview with Interfax- Ukraine.

"I’m absolutely convinced that this is extremely important not only to freeze assets but also to make possible to confiscate it, to make it available for the rebuilding country. I’m personally convinced," Michel said.

At the same time, he said, referring to his professional experience as a lawyer, that "legal level is not so simple." "There are 27 legal systems across the EU and in many EU members states this needed decision taking by a court in order to make it possible. It’s takes time, it’s a difficult and long process," the President of the European Council said.

In this regard, Michel said that he had already instructed the legal service of the Council to prepare "some possible ideas in order to find legal solution in line with the principals of rule of law, that would facilitate and make possible the confiscation of the assets of the people who are sanctioned by the EU or by other countries in the world."

" In my opinion, this is question of fairness, not only idea to freeze the assets, but the confiscation to make this money available for Ukrainian authorities for trust found and for the all this goals that I mentioned, especially for the rebuilding of the country, is a question of fairness, question of justice," he said with confidence.