The Head of the ILI Tetiana Khutor attended the United for Justice conference, where, among other things, the problems, mechanisms, and prospects of confiscation of Russian assets were discussed

Here are the main conclusions:

1. Foreign partners have gradually come to terms with the idea that freezing alone is not enough. However, not everyone has yet understood that punishment in criminal proceedings does not replace the need to compensate for the damage caused shortly, without waiting for years for the proceedings to be heard. Otherwise, it is not about justice.

2. SANCTION EVASION: The most ‘likely’ scenario for confiscation of Russian assets shortly will be confiscation for sanctions evasion. Such a scenario has already been worked out in the US and Germany. But we should not let this be the end of the story. Because the price of the issue is millions, and we need billions.

3. SANCTIONS ARE NOT THE ONLY THING: That is why, in addition to sanctions, there are other tools that can be used against the money of the rising oligarchs. These include prosecutions for tax evasion, money laundering, corruption offenses, illicit enrichment, etc. These tools are already available in other countries, we just need to invest in resources to use them against the Kremlin's wallets.

4. Civil forfeiture (both within and outside of criminal proceedings) is the only way to obtain compensation from private assets without waiting for years for sentences to be passed. The first $5.4 million will soon come to Ukraine from the United States. 

Head of the ILI Tetiana Khutor (right) and Deputy Minister of Justice of Ukraine Iryna Mudra (center) during the conference

We have launched a ‘Confiscation Tracker’ with the current state of confiscation of Russian assets in Ukraine and around the world. More information about Russian assets is available here.