The Institute monitors the confiscation of Russian assets in all countries of the world

Tetyana Khutor, the Head of the Institute, spoke about the process of confiscation of Russian assets and their use for the reconstruction of Ukraine during the national telethon.

‘We have an interest to compensate for the damage that has been done. According to the latest estimates, it is about $700 billion. If we are talking about assistance from our Western partners, it is assistance to maintain the current situation. When the war is over, it will become much more difficult for us to continue receiving this money. What we have to rely on is Russian money,’ said Khutor.

She noted that about $300 billion of Russia's funds as a state and up to $100 billion of private individuals' assets are currently frozen in the world

‘We need to confiscate assets legally. This includes the protection of property rights, the right to a fair trial, and a legal process for notifying asset owners of confiscation,’ added Khutor.

According to her, unlike the criminal process, the civil process of asset confiscation will take much less time.

‘Previously, these processes took not just years, but decades. Now, the positive trend is that it takes months... The basis of the civil process is that it is fast and aims at compensation rather than punishment. In this process, there is no need for the state to prove that a person has committed a specific crime and his or her guilt, only the connection between the person's actions and the consequences of the war,’ summed up the head of the Institute.

Soon we will present a confiscation track that will reflect the situation in the world regarding Russian assets in real time.

For more details, see the video: