The Institute of Legislative Ideas continues to monitor how Ukraine and the world are trying to make the aggressor pay for the war.

Here is our selection of the most significant events of this May:

Ukraine

• The HACCU appeal satisfied all the claims of the Ministry of Justice regarding the confiscation of the assets of collaborator Volodymyr Saldo. Several land plots, a hotel building, non-residential buildings, 3 apartments, a flat, and a car were taken away from the collaborator. The HACC also confiscated a quarry in the Zhytomyr region (99.86% of Kashtan PrJSC) and a stake in a transport company (30% of Delta Service PrJSC).

The court of appeal additionally confiscated property registered in the name of the collaborator's daughter, Iryna Saldo.

• Ukraine has confiscated the assets of Russian politician Sergey Tsekov. Sergey Tsekov is a former Ukrainian and later Russian politician. He was the first member of the Federation Council of the Russian Federation from the Crimean authorities on 24 September 2014. On 12 March 2022, amid Russia's invasion of Ukraine, he was added to the EU's expanded sanctions list, as well as to the sanctions of Switzerland, Ukraine, and New Zealand.

Europe

• The Heads of State and Government of the Council of Europe agreed to create a register of losses from Russian aggression, which is the first element of a future compensation mechanism.
• The European Union plans to transfer to Ukraine profits from frozen Russian assets worth 200 billion euros. It is noted that this step will not lead to the expropriation of the assets themselves but will mean increased Western financial pressure on Russia.
• Belgium transferred 92 million euros to Ukraine. The funds were received from tax revenues from Russian financial assets frozen in Belgium. Half of the amount, €46 million, is earmarked for new military aid, including armored vehicles, weapons, and ammunition. It is expected to be delivered as soon as possible. The other half of the funds will be used for humanitarian aid.
• Switzerland has announced the amount of assets of the Central Bank of the Russian Federation stored in the country: the total amount of reserves and assets of the Central Bank of Russia stored in Switzerland is approximately CHF 7.4 billion (EUR 7.58 billion).
• In the UK, an amendment was made to a bill that would allow for the confiscation of certain assets of sanctioned persons. In particular, it provides for the mandatory declaration of assets of such persons. And if the assets are not declared within six months, they can be confiscated on the grounds of sanctions evasion.
• Poland has already frozen more than a billion euros of Russian funds. However, to confiscate them, it is necessary to amend the Constitution. The Sejm held the second reading of a parliamentary bill amending the Basic Law. It is aimed, among other things, at creating a legal opportunity for the confiscation of Russian property.

USA

• For the first time, the US Attorney General allowed the transfer of confiscated Russian assets to Ukraine. This refers to the funds of Russian oligarch Konstantin Malofeev, which were confiscated by a US court on charges of sanctions evasion.

Other countries

• Bermuda froze $219.5 million of Russian assets as a result of sanctions imposed after the Kremlin invaded Ukraine.

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.