Press release from For Ukraine, for their freedom and ours!
The association For Ukraine, for their Freedom and Ours! has sent a detailed memorandum to French parliamentarians on the legal aspects of the confiscation of Russian public assets frozen in the European Union since the outbreak of war by Moscow.
While a motion for a resolution has been tabled in the French Parliament and a resolution has just been adopted in the European Parliament, this study provides a reasoned response to questions about the means of mobilising the assets of the Russian central bank to at least partially finance the reparation and immediate support of Ukraine.
It concludes that a confiscation could be legally based on customary international law, a source of law enshrined in the Statute of the International Court of Justice.
A fair measure, because it would contribute to the reconstruction of Ukraine.
The assets of the Russian Central Bank that have been frozen amount to almost 300 billion euros, of which around 200 billion are in the European Union.
At the same time, estimates of the damage suffered by Ukraine are much higher: the World Bank, the European Community and the United Nations estimate the costs of welcoming and supporting displaced persons, environmental impacts, economic losses for businesses and the reconstruction of Ukrainian infrastructure destroyed by Russian bombing (hospitals, schools, universities, churches, power plants, homes, businesses, etc.) at around 450 billion euros.
A legitimate measure , because confiscation would constitute a “ countermeasure ” under international law
Customary international law, as compiled in a document prepared in 2001 by the United Nations International Law Commission, entitled "The Responsibility of States for Internationally Wrongful Acts", allows an injured State to resort to a countermeasure – in this case confiscation – against a State responsible for internationally wrongful acts, with a view to obtaining compensation. This document recalls the principles and modalities for the application of countermeasures.
Russia has been recognized by a large part of the international community as a state responsible for unlawful acts. Many international and European institutions have condemned it to put an end to violations of international law, actions which have led in particular to its exclusion from the Council of Europe and the United Nations Human Rights Council.
It will be up to Ukraine to claim the frozen funds as a countermeasure, and for the states in which frozen Russian assets are located, and in particular European states, to implement their confiscation.
The association For Ukraine, for their freedom and ours! supports the cross-party resolution proposal tabled at the initiative of MPs Benjamin Haddad and Julien Bayou on 15 February, " relating to the use of frozen Russian assets for the benefit of the war effort and the reconstruction of Ukraine ".
She believes that this measure now depends essentially on a political decision, which is the responsibility of the States concerned by the implementation of the confiscation, starting with France, and calls on them to act quickly in this regard. She also calls on the European Council of 21 and 22 March, which will be devoted in particular to Russia's war of aggression against Ukraine, to declare itself clearly in favour of this measure now.