As of January 2024, direct damages from the war have reached $155 billion and continue to rise, leading to discussions about confiscating Russian assets for Ukraine's reconstruction 18/
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Legal grounds for seizing Russian assets for Ukraine reconstruction
What are the Legal Grounds for Seizure of Russian Assets for Reconstruction of Ukraine? 17/
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US Congress REPO Act authorizes confiscation of Russian assets for Ukraine
In some ways, the US is more aggressive wrt to Russian assets. The U.S. Congress adopted the REPO Act on April 23, 2024, which authorizes the confiscation of Russian sovereign assets to fund Ukraine's reconstruction 13/
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REPO Act clarifies confiscation as countermeasure, grants President powers
The REPO Act removes legal ambiguity around confiscation at the national level and articulates that confiscation represents countermeasures under international law. It grants the President necessary powers while circumventing sovereign immunity issues. 14/
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G-7 considers $50B Ukraine aid using frozen Russian assets
In addition, G-7 Eyes Plan on US-Led $50 Billion Aid Package for Ukraine. Plan would use profits from frozen Russian assets to repay aidLeaders from the G-7 countries will meet in Italy in June 15/
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Euroclear reduces management fee to 0.3% for Ukraine cash
Belgium's securities settlement house Euroclear handles the majority of the immobilized assets in the EU. Euroclear's management fee will be reduced from 3% to 0.3% to free up more cash for Ukraine. 10/
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G7 froze $300 billion Russian assets after Ukraine invasion
The G7 countries froze and hold around $300 billion worth of Russian financial assets shortly after the 2022 invasion of Ukraine 6/
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US proposes seizing assets, Europe hesitant, now collateral for Ukraine loans
The U.S. has proposed seizing the assets entirely, but Europe has been hesitant due to risks to the euro and potential legal repercussions. Washington has more recently pushed for using the assets as collateral for loans to Ukraine. 7/
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Belgium considers transferring tax profits to Ukraine from 2025
Belgium, where most of the assets are held, has agreed to consider transferring the collected taxes to Ukraine from 2025. It initially benefited from a 25% tax on the profits. 3/
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90% of EU funds for Ukraine weapons, 10% non-lethal aid
90% of the funds will go towards weapons for Ukraine, while 10% will be used for non-lethal aid to accommodate EU member states that do not wish to fund arms 4/