There are legal concerns regarding the utilization of funds frozen from Russia. Finding an EU-level solution has been difficult.
BRUSSELS The EU has been discussing the use of funds frozen from Russia for the benefit of Ukraine for months, but no joint decision has been reached.
Visiting Prime Minister in Brussels Kaja Kallas says that Estonia is preparing national legislation to divert funds seized from Russia to Ukraine.
– We have found a legal model and I believe that we also need one at the European level, Kallas said while meeting journalists in Brussels yesterday.
Estonian model could also be applied in other European countries, according to Kallas. This would send a clear message to Russia that along with the damage caused, there will also be a decline.
At the same time, it would be made clear to the taxpayers of the EU countries that the reconstruction of Ukraine is not on their shoulders alone.
– Why should we taxpayers pay for damages that we ourselves have not caused? Russia destroys Ukraine every day, so they should also pay, says Kallas.
A difficult legal question
However, the issue of diverting seized funds to Ukraine is complicated. This especially applies to the assets of the Russian Central Bank, which have been frozen to the tune of 200 billion euros.
The fear is that touching the central bank’s assets could erode trust in the European Union and the euro’s status as an international currency.
Finland has emphasized that the rule of law principle, which is important for the EU, must be followed in the case of funds frozen from Russia.
EU leaders will discuss Russia’s accountability at today’s summit in Brussels.
In the draft conclusions seen by , it is stated that the preparation related to the frozen assets must be continued together with partners, taking international law into account.
The commission is scheduled to give a presentation regarding the assets seized from Russia during the summer.
Will Ukraine’s EU membership come true?
The EU tables also discuss Ukraine’s wish to become a member of the European Union.
The commission is to assess before the turn of the year whether Ukraine meets the conditions for starting membership negotiations.
The summit will also discuss the security promises to be given to Ukraine, which would prevent future aggressions towards Ukraine.
According to Prime Minister Kallas, NATO membership would bring Ukraine the best security.
– We should get rid of gray areas in the European Union, because they are a source of conflicts, says Kallas.