Top EU Official Says Russian Assets Could Help Pay for Ukrainian Reconstruction
European Commission Executive Vice President Valdis Dombrovskis said last week that with the staggering costs of rebuilding Ukraine after the invasion and indiscriminate shelling and bombing by Russian forces, the EU is doing legal analysis on how it could use "confiscated Russian assets," whether seized or frozen, to help pay for Ukraine's reconstruction.
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
"In the 10th [EU] sanctions package we also introduced a reporting obligation. ... Member states will help report to the European Commission how much Russian assets they held," he said at a press conference in Washington on April 14. "We know there is legal assessment ongoing also in [the] U.S.," he added. "Canada has already made some steps in that direction. It may be that an unprecedented situation also requires unprecedented measures."