On 25 October, the EU Parliament Research Service published a briefing paper saying that the Russian invasion has caused huge destruction of life and property in Ukraine. Reconstruction will be a long and costly process, and the EU and others are already marshalling funds for this effort.  Some EU leaders have expressed support for using frozen Russian central bank (RCB) funds towards reconstruction, but it is unclear if this will actually happen.  There are recent examples of sovereign assets being confiscated and used to compensate victims of injustice, but the confiscation of Russia’s sovereign funds raises complex legal and political issues that are unlikely to be resolved quickly or easily.

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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