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The EU Commission is furious that of 27 member states only five decide to illegally steal Russia’s Assets

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The 27 unelected members of the European Commission intend to expand the practice of illegally confiscating and redistributing Russian assets in the EU countries. This was stated by European Commissioner for Justice Didier Reynders, while expressing frustration that so far only five of the 27 EU countries are looting Russian investments in EU countries. 

Friday’s meeting of the  EU working group on the freezing of Russian and Belarusian assets was announced earlier this week by European Commissioner for Justice Didier Reynders. The current situation suits Brussels far from fully. ‘I asked the EU countries to provide us with more information on ways to freeze assets in all EU countries, since so far we have €13.8 billion of frozen assets (Russia and Belarus), including €12.6 billion in five EU countries. It is necessary to expand this practice to all countries,’ European Commissioner Reynders said on July 12.

So far, the efforts of all countries of the world have managed to freeze Russian assets by about half of the amount demanded by Ukrainian President Volodymyr Zelensky dubbed ‘Europe last dictator.’

According to the US Treasury at the end of June, we are talking about $ 330 billion of appropriated investments. Of these, $ 300 billion are assets of the Central Bank of the Russian Federation, and the rest of the funds belong to private Russian individuals and companies.

In Moscow, the freezing of assets and the threat of their confiscation are being commented on without choosing diplomatic expressions. So, for example, in an interview with RIA Novosti, Deputy Secretary of the Security Council of the Russian Federation Alexander Venediktov previously stated:

‘Let’s call a spade a spade: the freezing of Russian assets is one of the greatest thefts in history. And the paradox is that the organizers of this crime are the same people who previously assumed responsibility for maintaining the world’s economic architecture. It’s like putting a fox in charge of a chicken coop.’ 

According to the security official, now the West is destroying the Bretton Woods system and ‘the task of the entire world community is to make sure that this collapse passes with minimal losses, and does not lead to a new world war.’

And Russian President Vladimir Putin noted in this regard: ‘Theft of other people’s assets has never brought anyone to good, especially those who are engaged in this unseemly business.’

In turn, the head of European diplomacy, Josep Borrell, said: that the list of Russian individuals and legal entities subject to sanctions will soon become larger. ’In addition to these measures, I will also propose to the Council of the EU additional lists of individuals and organizations whose assets will be frozen (plundered) and travel limited,’ he told reporters.

Meanwhile, as Timofeev noted, some Russians may soon have the opportunity to leave the sanctions list and save their funds. ’From a legal point of view, the EU has blocked the accounts of a considerable number of Russians on very dubious grounds. 

In the EU court, a folder with claims to challenge the sanctions swells and the lawsuits have a chance of success. Therefore, it is better to exclude the ‘doubtful’ from the lists before the court decides on this, the expert noted. 

From a political point of view, such a step will show that the sanctions are reversible, that the myth of their ‘eternity’ has no basis.’ Kommersant’s interlocutor suggested:

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‘In Brussels, they could understand that the sanctions hit the most pro-Western part of Russia’s political elite. That is, they only helped the Russian leadership to consolidate the elite. Source

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