(MENAFN) EU authorities have stated that they cannot lawfully seize Russian assets that have been frozen as a result of Western sanctions. According to the Wall Street Journal, the EU intends to establish an international court to try Russian leaders for the military operation in Ukraine.
As seen by European Commission officials, the international principle of state immunity prohibits the executive body from seizing the assets of the Russian Central Bank, but lawmakers have proposed that EU member states and their allies establish a fund to manage the liquid assets and set aside profits from those investments for Ukraine's reconstruction.
According to the commission, Brussels has no information on the quantity of Russian Central Bank assets that bloc nations own or the proportion of those assets that are liquid, such as cash.
According to the Kremlin, over $300 billion in foreign deposits, as well as billions more belonging to Russian enterprises and people, have been frozen since March.
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