This afternoon, the Constitutional Committee of the Riigikogu (Parliament of Estonia) will hold a public sitting to discuss with foreign experts the using of Russia’s assets frozen under international sanctions to compensate the war damages caused to Ukraine.

Minister of Foreign Affairs of Ukraine Dmytro Kuleba will deliver a video address at the public sitting. Expert on Russia and political activist Bill Browder, and economist and expert on Russia and Ukraine Anders Åslund will speak about the impact of the using of frozen assets on Russia. Director of the Centre for Financial Crime and Security Studies at the defence and security think-tank RUSI Tom Keatinge will discuss the links between the oligarchs and the Kremlin, and the frozen assets of the Central Bank of Russia, and Professor Emeritus at Harvard University Laurence Tribe, an expert in international law, will analyse the use of assets from the perspective of international law.

The public sitting will be held in the Conference Hall of the Riigikogu from 2 p.m. to 4 p.m., and will be live streamed online with simultaneous interpretation into Estonian or in English. The video recording of the sitting will be available to watch later on  the Riigikogu YouTube channel.

The Bill that would allow the use of Russia’s frozen assets for the reconstruction of Ukraine and better implement the sanctions against Russia was initiated by the Government and passed its first reading in the Riigikogu in mid-November. Before sending the Bill to the second reading, the Constitutional Committee has repeatedly discussed the introduction of such a regulation and its importance with banking experts, Estonian foreign policy experts and representatives of the courts. Next week, experts in constitutional law will participate in the discussion.

The Bill on Amendments to the International Sanctions Act and Amendments to Other Associated Acts (332 SE) will create a national mechanism to ensure the financial liability of the aggressor state for damage caused by the most serious violations of international law. The amendment will enable the use of assets of individuals and companies that have contributed to Russia’s illegal acts as an advance payment for damages owed by Russia to Ukraine. The Bill also specifies the competences of state agencies in the implementation of international sanctions and provides them with a clearer legal basis for the implementation and monitoring of sanctions.

Riigikogu Press Service
Karin Kangro
+372 631 6356, +372 520 0323
[email protected]
Questions: [email protected]