Angelika Hellweger assesses UK moves to enable frozen Russian assets to be donated to the reconstruction of Ukraine

With the UK government having announced measures to maintain Russian sanctions until compensation is paid to Ukraine, Angelika Hellweger considered the practical issues that need to be considered.

In her article, which was published by WorldECR, Angelika outlines the relevant legislation and the thinking behind it. She explains that while the principle of having the aggressor pay for war damages has been used before, the idea of making this happen using assets that have been frozen by sanctions is new.

Angelika details why such a move could lead to huge amounts of litigation and retaliatory measures when it comes to the seizure of Western assets and monies. She emphasises the need for a proper legal framework to be created if frozen foreign reserves are to be used to help rebuild Ukraine. She also warns of difficulties when it comes to the possibility of sanctioned individuals donating frozen funds to Ukrainian reconstruction.

The full article can be read in this month's World ECR magazine. (Subscription required) 

Featured at: WorldECR