According to Prime Minister Kaja Kallas, it is very important to raise the price of aggression for Russia. “We need to find ways to make Russia financially responsible for the damage caused to Ukraine. The draft Act that the government sent to parliament today will allow assets of sanctioned persons which have been frozen in Estonia to be used to compensate Ukraine for war damage. We need to set an example and encourage other European countries to introduce similar regulations. Russia must compensate Ukraine for all the war damage it has caused,” said Kallas. “It is important that aggression is punished and the damage caused by aggression is compensated.”
“We also want the European Union to complete its process of mobilising frozen Russian assets and developing practical solutions as soon as possible,” Kallas added.
Minister of Foreign Affairs Margus Tsahkna also acknowledged Estonia’s initiative in mobilising frozen Russian assets. “I am pleased that the government approved the draft amendment to the International Sanctions Act today, which aims to streamline the Estonian legal framework to enhance the competence and powers of the authorities in the implementation and monitoring of sanctions. I hope it will be debated in the Riigikogu at the earliest opportunity to continue to raise the price of war on Russia, which includes making the sanctions already in place more effective,” Tsahkna said. “Part of the draft Act is Estonia’s initiative to mobilise frozen Russian assets to compensate for the damage caused by Russia’s brutal war in Ukraine. The money to compensate for the damage caused by Russia in Ukraine should not only come from the pockets of taxpayers in other countries.”
It should be taken into consideration that any country is a legal construct and acts and bears liability through its people,” Tsahkna emphasised. “Depriving the citizens of the aggressor state who have contributed to the aggression of their assets outside their home country is justified, because after more than 80 years, a war is taking place in the heart of Europe that will determine the European security architecture for a long time to come. Punishing any individual who contributes to this aggression can also ultimately influence the political leadership or the people of the aggressor state to comply with international law,” he said.
The Minister of Foreign Affairs explained that under the draft Act, frozen Russian assets will remain frozen until war damages have been compensated. The implementation of the mechanism requires an international agreement with Ukraine or an international compensation mechanism.
At the time of preparing the draft Act, Estonia is estimated to have €38 million worth of assets frozen under international sanctions.
