President of Latvia: EU should make joint decision on confiscation of frozen Russian assets for Ukraine

President of Latvia: EU should make joint decision on confiscation of frozen Russian assets for Ukraine

The European Union should make a joint decision on the confiscation of frozen Russian assets to rebuild Ukraine, as each country has many legal nuances on this issue.

This was stated by Latvian President Edgars Rinkēvičs at a joint press conference with Ukrainian President Volodymyr Zelensky in Riga, an Ukrinform correspondent reports.

When this is about the U.S. decision to confiscate sanctioned Russian assets, there has been a lot of work on this for some time. But at the European Union level, such good progress has not been made. There should still be a common decision at the European level. This would allow these funds to be transferred to rebuild Ukraine or to other measures to support it, Rinkēvičs said.

Read also: IMF comments on potential seizure of frozen Russian assets

He added that Latvia is also working to find possible solutions at the regional level with colleagues in Estonia and Lithuania.

There are many legal nuances in different countries. But, of course, the purpose of using these frozen assets is clear. These assets should be transferred to Ukraine, the President of Latvia said.

As Ukrinform reported, on January 10, Volodymyr Zelensky visited Lithuania, and on January 11, he visited Estonia and Latvia.

According to media reports, the administration of U.S. President Joe Biden has supported a bill that would allow for the confiscation of about $300 billion in frozen Russian assets and use the funds to rebuild Ukraine.

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