Estonia was the first European country to start preparations for the confiscation of Russian assets

Estonia was the first European country to start preparations for the confiscation of seized Russian assets. The countryʼs government plans to present a legal plan for the seizure of assets in January, said the representative of the Ministry of Foreign Affairs, Mihkel Tamma.

Bloomberg writes about it.

Official Tallinn plans to present the plan before the European Commission makes a bloc-wide decision on how to dispose of the €300 billion in frozen assets of the Russian Central Bank, as well as the assets of sanctioned Russians.

The country froze Russian assets worth almost €20 million. The government of Estonia advocates the transfer of frozen assets to Ukraine.

• In November 2022, the head of the European Commission, Ursula von der Leyen, proposed to create a special fund to compensate Ukraine for losses from the frozen assets of the Central Bank and the assets of private individuals. However, until now, European countries have not made decisions on the start of confiscation of Russian property.
• Canada and the US are also developing mechanisms to confiscate Russian assets. They plan to send them to restore Ukraine.