The EU should stimulate changes in the laws of member states to seize russian assets – DiXi Group
The European Union should develop and implement a mechanism that would encourage member states to amend their national legislation to seize russian assets. Without such a step, the seizure decision will remain only a voluntary initiative of a small number of Eastern European and Baltic countries.
This was discussed during the advocacy visit of the team of the DiXi Group think tank to Brussels as part of the advocacy of further sanctions against Russia in the field of energy and seizure of russian assets frozen in EU member states.
“Those countries that can seize the largest number of russian assets will not be in a hurry to develop their own alienation mechanisms. They will wait for signals and incentives from the EU,” said Olena Pavlenko, President of the DiXi Group Think Tank, after the trip. “Therefore, the European Commission and the European Parliament are now required to develop a framework mechanism that would allow to call russia’s actions in Ukraine a crime that should entail punishment. On the basis of this mechanism, EU member states will have to apply the seizure of russian assets in their territories”.
As part of the trip, meetings were held with members of the European Parliament and the European Commission – possible next steps in the sanctions pressure on russia were discussed, in particular, a further reduction of the limit prices for russian oil and petroleum products, the extension of sanctions to the nuclear energy sector, better monitoring of the fulfillment of sanctions requirements by market participants. In addition, the DiXi Group provided address of a number of public organizations calling to increase pressure on the russian energy sector.
“Sanctions against Russia are in effect, but there is still room to strengthen their influence. russia still receives profits from the sale of oil and gas, and revenues from exports of nuclear fuel and technology are even growing. Therefore, the EU should not stop with the development and implementation of new packages of sanctions against russia,” said Roman Nitsovych, Head of Research at DiXi Group.
The subject of further sanctions and seizure of russian assets was the subject of a meeting between DiXi Group and think tanks and public organizations working in Brussels. The exchange of positions and opinions between experts will help in the future for better coordination and better advocacy to increase pressure on russia.
The DiXi Group experts travelled to Brussels within the framework of the International Renaissance Foundation project “Advocacy for the “green” recovery of Ukraine through increased support for Ukraine and weakening of russian influence in the EU”.