By TOKYO. May 12 (Interfax-Ukraine) – The G7 is discussing how the frozen assets of the Russian Federation can be sent to Ukraine, The Japan Times reported on Friday, citing an unnamed source.
“The Group of Seven is discussing ways of transferring to Ukraine the Russian assets seized following the invasion by Moscow, with legal complexities and domestic restrictions making it difficult to do the transfers, a source familiar with the discussion said Friday,” the publication informs.
At the same time, the G7 talked about seizing the profits that can be made from confiscated assets in order to circumvent legal barriers.
In mid-April, the publication Welt, citing an unpublished document of the European Commission (EC), reported that the EU authorities are ultimately legally obliged to return to Russia the reserves of the Russian Central Bank frozen on the territory of the union. However, EU officials came to the conclusion that “reserves can be invested and, at a minimum, provide Ukraine with the proceeds from this interest.”
Recently, the EC representative said that the EU was exploring the possibility of using the frozen Russian assets of individuals and organizations included in the sanctions lists of the European Union, but the EU must stay within the legal framework. He recalled that member states were also discussing frozen Russian state assets owned by the Central Bank of Russia. He added that the topic of using assets of Russian origin for Ukraine was one of the most relevant in negotiations with the United States.
