Ukrainian Member of Parliament Serhiy Vlasenko has issued a warning regarding the potential use of frozen Russian assets within the European Union. During a recent session of the Verkhovna Rada, the Ukrainian Parliament, Vlasenko emphasized that the adoption of draft law No. 7520-d ‘On the jurisdictional immunities of foreign states and their property’ will not be a sufficient condition for the utilization of these assets. Instead, he pointed out that the decision lies in the political will of the EU member states.
This law, which is currently under consideration, aims to address the legal aspects of foreign state immunities and their property. However, Vlasenko is cautioning that its mere passage would not translate into tangible financial benefits for Ukraine. He argues that the actual allocation and use of the frozen Russian assets would require consensus among the EU member states, which may not be forthcoming.
The implications of Vlasenko’s statement are significant, particularly given the ongoing economic tensions between Ukraine and Russia. The frozen assets, which are reportedly in the tens of billions of euros, have been a focal point of international negotiations. The EU’s position on this issue has been multifaceted, balancing sanctions enforcement with the potential for financial aid. Vlasenko’s warning underscores the political complexities involved in such decisions, highlighting the need for a unified approach among member states to effectively address the economic ramifications of the conflict.