Why aren’t frozen Russian assets transferred to Ukraine yet?

With the beginning of the full-scale invasion of the Russian Federation in Ukraine and the numerous losses of the Ukrainian economy due to Russian aggression and rapidly growing defence costs, talks began about transferring frozen Russian assets to Ukraine as reparations. However, taking into account the scale of the amount and the potential escalation that could follow such a decision, an idea was developed to transfer to Ukraine the profits received from frozen assets, not directly Russian money.

Transferring frozen Russian assets to Ukraine is not straightforward due to the intricate situation of international laws protecting sovereign assets from confiscation. This means that a new legal framework needs to be carefully crafted and agreed upon before any transfer can occur, which is a highly complex and time-consuming endeavour.

Moreover, achieving a global consensus on such a transfer is challenging as countries have diverse political and economic interests that can affect their positions. Lastly, the potential transfer of assets could set a new and significant precedent in how states handle each other’s assets during conflicts.

UKRAINE IN FLAMES project is created by Ukraine Crisis Media Center and NGO “Euroatlantic Course”. We are aiming at searching a loud support for Ukraine in the war started by Russia on the 24th of February 2022.

If you want to support Ukraine against Russian aggression, check the link with recommendations by Ukraine Crisis Media Center – https://uacrisis.org/en/help-ukraine.

NGO Euroatlantic Course collects donations to support Ukrainian Army and civilians – https://eac.org.ua/en/main-page/.

How you can help Ukraine against Russian aggression:

Come back alive – https://bit.ly/3Ct6O2L (works directly with the command and personnel of military units, purchasing infrared thermal imaging cameras, night vision goggles, hemostatics etc); 

UNITED 24 – https://bit.ly/3M2mXiT (launched by the President of Ukraine Volodymyr Zelenskyy as the main venue for collecting charitable donations in support of Ukraine. Funds will be transferred to the official accounts of the National Bank of Ukraine and allocated by assigned ministries to cover the most pressing needs)

Army SOS – https://bit.ly/3UYK168 (manages purchases of necessary ammunition, shields, intercommunication and reconnaissance facilities, etc. and delivers all goods directly);

Vostok SOS – https://bit.ly/3Ruut75 (raising funds for various needs of the army).