EU countries have yet to reach an agreement over transfer of Russia's frozen assets to Ukraine

The European Union is still unable to reach an agreement on the confiscation of Russia's frozen assets and their transfer to Ukraine, said Geoffrey van Leeuwen, foreign affairs and defense advisor to the Prime Minister of the Netherlands, at the Aspen Security Forum, Report informs.

“We have not reached the stage where we can confiscate assets and give them to Ukraine yet. The reasons lie in Germany's objections and legal issues that could be brought to court. We haven't gone too far yet to say we can do it,” he said.

Since 2022, the European Commission (EC) has repeatedly stated that existing European legislation does not allow the confiscation of foreign assets frozen as a result of unilateral EU restrictions and their transfer to another person or state.

At the same time, the EC has been intensively working to change European norms to legalize the confiscation of such funds since the summer of 2022.