European Council President Calls For The Confiscation Of All Frozen Russian Assets

President of the European Council Charles Michel © AFP / John Thys  

Politico: Charles Michel calls for confiscation of sanctioned Russian assets 

Council president says Russian wealth should help rebuild Ukraine but plan faces legal obstacles. 

European Council President Charles Michel said he wants EU countries to confiscate sanctioned assets to make Russia pay for its wartime damage to Ukraine. 

Michel laid out his hope of seizing the sanctioned assets — totaling tens of billions in cash, real estate, yachts and other property — in an interview with the Interfax-Ukraine news service published Thursday. 

Michel acknowledged that such seizures would entail an excruciatingly difficult legal process, across the national legal systems of all 27 member countries, and he offered no details about how it might be accomplished.  

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Update: EU calls for confiscation of frozen Russian assets (RT) 

WNU Editor: The EU is not alone. There is a push to do the same thing in the U.S. .... U.S. lawmakers urge Biden to sell Russian yachts for Ukraine aid (Axios), and in Canada .... Canada wants to use seized Russian assets to help Ukraine victims (Al Jazeera). But if this happens there are going to be long term consequences .... Support grows for selling seized Russian assets to fund Ukraine – but experts warn it's a complicated and risky strategy (Insider).