The Institute of Legislative Ideas continues to monitor how Ukraine and the world are trying to make the aggressor pay for the war
This week was particularly full of positive news about the confiscation of Russian assets, in particular:
- The Ministry of Justice filed a lawsuit with the HACC to confiscate the assets of the Ilyushin Aviation Complex.
- Ukraine is also going to confiscate the assets of collaborator Kateryna Martyanova, a Ukrainian citizen and deputy head of the so-called ‘public chamber of the Donetsk People's Republic’. She took an active part in organizing and conducting illegal referendums.
- The US Congress will consider a bill to confiscate Russia's sovereign assets. The bill states that Russia, as an aggressor state, should bear full financial responsibility for any damage and losses caused by its internationally illegal actions on the territory of Ukraine.
- Estonia will submit a draft law on the use of frozen Russian assets for the restoration of Ukraine. It will provide for amendments to the Law of Ukraine ‘On International Sanctions’, which will be submitted for approval shortly.
- The European Parliament adopted a resolution on the restoration and Euro-Atlantic integration of Ukraine. One of the most important points concerns the Register of Damages.
- Canada will transfer a Russian An-124 Ruslan aircraft to Ukraine. Canadian Prime Minister Justin Trudeau says he will continue to put sanctions pressure on Russia.
- Dutch financial institutions are having trouble freezing Russian assets. Almost a year and a half after the start of Russia's invasion of Ukraine, one-third of banks and other financial institutions are unable to properly trace and freeze assets on the sanctions list.
- The US and its allies have frozen $300bn of Russian assets. US Treasury Secretary Janet Yellen said that the US and its allies are cooperating in the search for Russian sovereign assets and are considering options for their seizure.
For more information on the situation with compensation for losses from the Russian invasion, please visit our confiscation tracker, an interactive website that displays up-to-date information on amounts, legislation, court decisions, and political positions on confiscation.