EU justice ministers discuss compensation to Ukraine from confiscated Russian assets

BRUSSELS

EU justice ministers are holding a meeting on Friday to discuss legal drafts on paying compensation for Ukraine from confiscated Russian assets.

“I will also be happy to report on progress on important directive regarding penalties for violations against EU sanctions, but also regarding asset recovery and confiscation,” Swedish Justice Minister Gunnar Strommer told reporters on the way to the meeting.

He stressed that the discussions will go beyond “principles,” and will focus on “concrete and hands-on” solutions for the complex legal problems of circumventing sanctions and supporting Ukraine from confiscated Russian assets.

EU Commissioner for Justice Didier Reynders said the EU aims to “bring all the perpetrators of crimes in Ukraine before justice.”

According to the latest figures revealed by the European Commission in February, the EU has frozen €21.5 billion ($22.7 billion) in Russian assets under its sanction regime targeting people responsible for the war in Ukraine.

Ukraine has demanded compensation financed by confiscated assets of private people who helped Russia as well to rebuild the country after the war that started last February.