The Estonian government has given its approval to a bill that will be sent to parliament, amending the International Sanctions Act. This amendment outlines the domestic rules for utilizing frozen assets of individuals under sanctions to compensate for the damage caused by Russia's war in Ukraine.
According to the bill, Estonia's legal framework will be expanded to ensure the competence and authority of institutions overseeing and implementing sanctions are clearer and more effective, as stated in a government press release.
Estonian Prime Minister Kaja Kallas remarked, "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,"
According to the bill, frozen Russian assets will remain frozen until the losses from the war are compensated.
At the time the bill was prepared, Estonia had frozen assets worth approximately €38 million based on international sanctions.
