According to the President of the European Commission (EC), Ursula von der Leyen, there is still no legal basis for such a measure.
On Tuesday, during a conference dedicated to the reconstruction of Ukraine, von der Leyen said, "Our goal is not just to freeze, but to seize the assets."
At the conference attended by several of Ukraine's major international donors, the official referred to the legal complexity of the measure.
On the establishment of the legal basis, von der Leyen said a working group has been set up, including several international experts.
The working group would be responsible for determining what has been frozen, but also for addressing the legal preconditions for seizing Russian assets to be used for Ukraine's reconstruction.
⚡️DERNIERES NOUVELLES⚡️— JMS (@JohnSotthaltz) October 25, 2022
L'objectif de l'UE n'est pas de geler, mais de CONFISQUER les avoirs russes en Europe, mais pour ce faire, un cadre juridique doit d'abord être créé - Ursula von der Leyen, présidente de la Commission européenne. pic.twitter.com/QFcsDAF41I
The EU's goal is not to freeze, but to CONFISCATE Russian assets in Europe, but to do this a legal framework must first be created - Ursula von der Leyen, President of the European Commission.
"The will is there, but legally it is not trivial, there is still a lot of work to be done to reach that goal," said the President of the European Commission.
Following the launch by President Vladimir Putin of Russia's special military operation in Ukraine on February 24, funds belonging to Russian individuals, including assets of Russia's central bank, have been frozen.
This move has been strongly criticized by Russia, with Foreign Minister Sergey Lavrov calling it theft by the West.