Confiscation of frozen assets of Russia: why Ukraine will not get money for a long time

According to the US Special Representative Penny Pritzker, the debate for the transfer of confiscated Russian assets to Ukraine will be long because the process itself needs a legal basis. Ukraine will be able to obtain assets confiscated by the event only after the collective decision of all countries where there are such assets. Moreover, the process of transferring assets will not be fast.

On January 15, the US Special Representative for Economic Recovery of Ukraine Penny Pritzker at the World Economic Forum in Davos said it, Ukrinform reports. "I think if the decision is made, it will be a collective decision," she said. Penny Pritzker added that the issue of confiscation of Russian assets should be approved by all countries where there is an aggressor country. The debate of this will be long, since the asset transfer process will require a legal basis.

At the same time, the official added that it is wrong to believe that such confiscation will become a "panacea" or will happen "very quickly". In the US this year, they have to make decisions on two bills: one is related to the sovereign assets of Russia and the other with frozen funds of Russian oligarchs. According to experts, the issue of transfer of frozen Russian assets to Ukraine can be resolved in 2024. "I do not think that the term will go beyond 2024, since both laws are two-party.

The speed of adoption H. R. 4175, which concerns the confiscation of sovereign assets of the Russian Federation, will be higher,"-said a member of the Financial Analytics Society, ex-members of the NBU Council Vitaliy Shapran. At the same time, it is believed that Americans want to wait for the election results in the country. The new President will be elected in the spring of 2024. "It seems that it is preparation for 2025, when the US may change in the US.

The most realistic scenario is that either these funds will be transmitted in stages, given the institutional weakness of Ukraine and on the issue of corruption. Or a fund of management of these funds will be created in general. Somewhere in the EU, we will be allocated to us in stages both for funding a shortage and to restore in exchange for reforming the country, " - said CASE Ukraine Executive Director Dmitry Boyarchuk.

We will remind, on January 11, the Bloomberg agency reported that representatives of the US government have expressed support for the bill, which provides for the possibility of confiscation of frozen assets of the Russian Federation, estimated at about $ 300 billion. Also, Foreign Minister Dmytro Kuleba has recently said that the specific legal rules that will allow our country to take away the frozen assets of Moscow, are already discussing at the G7 level and the European Union (EU).