Estonia decided to be the first in the EU to legalize the confiscation of Russian assets

The country intends to adopt a corresponding bill soon . it will affect the assets of Russian companies worth €35 million. The Kremlin warned that RUSSIA would respond to such actions with legal proceedings Margus Tsahkna

Estonia in the near future intends to pass a bill that will allow the confiscation of Russian assets; it will be a pioneer in the EU in this regard , the HEAD of the Republic’s Foreign Ministry, Margus Tsahkna, said, reports BLOOMBERG .

“This will really hit the oligarchs, it will really hit the Russian state,” he said. According to him, work on the initiative was complicated by “strict guarantees of private property in Estonia.”

First, the bill must be approved by the Estonian government , then it will go to the country's parliament for consideration. Tallinn began work on the document in winter.

The measure may affect the assets of Russian enterprises in the republic in the amount of €35 million. Their alienation will take place on the basis of data from the international register of damage caused to Ukraine . The Council of Europe (which includes not only EU states) decided to create such a register in May of this year, but not all member countries supported the idea; opponents included Turkey , Armenia, Hungary, etc. It proposed collecting information on damage, losses and harm caused on the territory of Ukraine after February 24, 2022. Creating a register is the first step in developing a compensation mechanism for Kyiv.

The EU has long been trying to decide what to do with frozen Russian assets: according to European authorities, we are talking about €207 billion, including assets of the Central Bank of Russia. In total, the country's assets worth $280 billion are blocked in the world (approximately €261 billion at the exchange rate at the time of publication), reported the American Ministry of Finance (the Russian Ministry of Finance estimated the total volume of gold and foreign exchange reserves frozen in the West at $300 billion).

Among the proposed actions with Russia's assets in the EU were, for example:

Read PIONERPRODUKT .by Why visiting a sauna strengthens the heart Relax to the fullest: how Gates, Musk and Buffett relax Don’t stand in the way: why companies in Russia have poor logistics Orgasm in the head: what processes in the brain are triggered by sex Introduction of a tax on windfall profits from frozen assets Bank of Russia for €200 billion, which would go to the budget of EU countries, Bloomberg reported, citing sources; reinvestment of frozen assets of the Central Bank with an annual yield of 2.6%, this figure was called by Politico with reference to a document of the European Commission.

Decisions to confiscate frozen Russian assets have already been made in the United States . Thus, Washington decided to transfer $5.4 million to Kyiv, which was confiscated from the founder of the Tsargrad TV channel, Konstantin Malofeev.

The Kremlin called all cases of blocking, seizure or retention of state or private property abroad illegal. Presidential spokesman Dmitry Peskov said that further steps with Russian assets would lead to legal proceedings, since they are “legal nonsense.”