The Government of Estonia approves an amendment to the International Sanctions Act allowing the use of frozen Russian assets to help Ukraine

The Estonian government has approved an amendment to the International Sanctions Act, which, in particular, provides use of frozen Russian assets to help Ukraine. 

The Estonian government's website reports.

"We should be an example and an encouragement for other European countries to establish similar regulations. Russia must compensate Ukraine for all the damage caused by the war. It is important that the aggression is punished, and the damage caused by the aggression is compensated. We also want the European Union to complete the work on the frozen Russian assets and the development of practical solutions as soon as possible," Prime Minister Kaja Kallas said.

The Estonian Foreign Minister explained that according to the draft law, Russia's frozen assets will remain frozen until the damage caused by the war is compensated. The mechanism requires an international agreement with Ukraine or an international compensation mechanism.

In Estonia, Russian assets were frozen in the amount of approximately €38 million under international sanctions at the time of drafting.

The draft law is yet to be considered by parliament.