Estonia approves bill on the use of frozen Russian assets

The Estonian government has approved and will submit to the parliament an amendment to the International Sanctions Act, which provides for domestic rules for the use of frozen assets of sanctioned persons to compensate for the damage caused by the Russian war in Ukraine.

Source. This was reported by Yevropeiska Pravda with reference to the press service of the Estonian government.

"The bill that the government and I have sent to the parliament today allows the use of frozen assets of persons against whom Estonia has imposed sanctions to compensate for the damage caused by the war in Ukraine. We must be an example and an incentive for other European countries to establish similar rules. Russia must compensate Ukraine for all the damage caused by the war," said Estonian Prime Minister Kaja Kallas.

As part of international sanctions against Russia for its invasion of Ukraine, Estonia has frozen assets worth about 38 million euros.

Kallas called on the European Union to "quickly complete the work on the use of Russian frozen assets and develop practical solutions."

"The money to compensate for the damage caused by Russia to Ukraine should not come only from taxpayers of other countries," said Estonian Foreign Minister Margus Tsakhkna.

In September, he promised that Estonia would be the first EU country to legalize the confiscation of Kremlin-related assets to finance Ukraine's recovery.

Background. As it became known the day before, Brussels will start transferring taxes on income from Russian frozen assets to the Ukraine aid fund. Belgium became the first country to introduce this practice.