Estonia to begin procedure of transferring frozen Russian assets to Kyiv

Tallinn plans to work out its own mechanism of transferring Russian frozen financial assets to Kyiv to fund the country’s revival, Estonian Foreign Minister Urmas Reinsalu said, Report informs referring to TASS.

In an interview with the Postimees, he said that the sum of the frozen Russian assets amounts to 17 billion euro, but the process of their use in favor of Kyiv is not moving, despite the fact that the European member nations have instructed the European Commission to elaborate a legal scheme for that.

Nevertheless, the Estonian government has decided to establish a legal structure to utilize Russia’s assets frozen in Estonia, Reinsalu said.