Estonia plans to transfer confiscated Russian assets to Ukraine by end of the year — Bloomberg

Estonia wants to transfer confiscated Russian assets worth €35 million to Ukraine.

Bloomberg reported this.

Estonia has been developing the project since December last year. It is planned to use the International Register of Damage for Ukraine to transfer the assets.

"This will really hit oligarchs — this will really hit the Russian state," said Estonian Foreign Minister Margus Tsahkna.

He added that he was ready for lawsuits from Russia.

Estonia wants to become the first European country to transfer frozen Russian assets to Ukraine.

In June 2023, European Commission President Ursula von der Leyen said that the frozen over €200 billion of the Russian Central Bank would be transferred "over time" to rebuild Ukraine.

Von der Leyen promised to draft a bill "before the summer break" in the European Commission. However, the deadline was later pushed back.

It will be recalled that the US will transfer frozen assets of Russian oligarchs worth $5.4 million to Ukraine for the first time.