Estonian government approved transfer of frozen Russian assets to Ukraine

13.10.2023 09:10

The Estonian government has given the green light to a proposed law that, if approved by the parliament, will allow Ukraine to receive frozen Russian assets. Prime Minister Kaja Kallas made this announcement on October 12.

Estonian Foreign Minister Margus Tsahkna emphasized that the money needed to compensate for the damage caused by Russia in Ukraine should not solely come from taxpayers of other countries.

The purpose of the bill is to utilize frozen assets in Estonia to provide compensation for the damages resulting from the war, according to Kallas. She also stressed that Estonia should serve as a model for other nations in implementing similar regulations, emphasizing the need for Russia to compensate Ukraine for all war-related damages.

Tsahkna expressed hope that this law would encourage Russia to adhere to international law, as it stipulates that the assets will remain frozen until war damages are fully compensated. He further noted that imposing penalties on individuals contributing to aggression could have an impact on the leadership or citizens of the aggressor country.

The Estonian government estimates that approximately 38 million euros (about $40 million) worth of assets have been frozen in the country due to international sanctions against Russia.

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