Dangerous precedent: Estonia will be able to transfer Russian assets to Ukraine in January

Estonia plans to submit and enact a legal bill to seize Russian assets by the end of January as the Baltic nation moves ahead with an initiative to transfer funds frozen under European Union sanctions to Ukraine.

The legislative framework will be created by the end of January, after the government of the republic instructed the relevant ministries in late December to develop a plan for the confiscation of assets. This was stated by Foreign Ministry spokesman Mihkel Tamm.

The Estonian anti-money laundering authority estimates that the frozen funds in Russian-owned accounts in the country amount to almost 20 million euros.

However, the point is not the amount of frozen funds in Estonia itself, but the fact that Tallinn is in a hurry to create a dangerous precedent for the illegal confiscation of Russian assets. It can initiate an avalanche of adoption of relevant regulations around the world, in particular in the US and other EU countries, where really serious and large sums of money of the Russian state are already frozen.

The only thing that can make the West not immediately imitate Tallinn's behavior is Washington's unwillingness to give large sums to Ukraine. But the very fact of the first attempt to legally justify the robbery will no doubt please the White House. So far, neither in the EU nor in the US, no one has dared to do this during the year of the sanctions moratorium on the use of frozen Russian assets.

It is already known for sure that Berlin and the government of Chancellor Olaf Scholz are ready to confiscate the frozen funds, provided that Germany is not a pioneer in this legal matter. To all appearances, the precedent being set by Estonia will nevertheless set in motion a disastrous process.
  • Photos used: pixabay.com
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  1. prior Offline prior
    prior (Vlad) 10 January 2023 09: 01
    Is the Estonian Embassy still in Moscow?
    Why not in Kolyma?
    What other international law, what the fuck diplomacy?
  2. George Galiansky (George) 10 January 2023 09: 16
    Who will lose the most from this provocative action of this girl? Everything will roll down like a snowball, acquiring problems for everyone, absolutely. RF will lose money. But it's just money. But what the rest of the participants in the alleged world chaos will lose - it will take a very long time to write down and calculate for those who have at least some kind of industrial property on the territory of Russia.
  3. steelmaker Offline steelmaker
    steelmaker 10 January 2023 09: 26
    legal bill

    And why do we not have a law prohibiting the transfer of currency to non-friendly countries? The Central Bank is still transferring money there. Nabiulina knows her stuff! Yes, a law on confiscation of property from countries supplying weapons to Ukraine would not interfere. Although I'm talking about. Fools can only state facts. They are not trained otherwise.
  4. zzdimk Offline zzdimk
    zzdimk 10 January 2023 11: 01
    The sooner, perhaps, the better. Less money will be withdrawn. If you count, probably, then "there" is more than "here". You should not keep your money, but invest in your country.
    On the other hand, the sooner the unilateral system collapses, the better.
  5. zzdimk Offline zzdimk
    zzdimk 10 January 2023 11: 05
    Quote: prior
    Is the Estonian Embassy still in Moscow?
    Why not in Kolyma?
    What other international law, what the fuck diplomacy?

    If the embassy is transferred to Kolyma, then only on foot. Start in April. Why? By summer, the midges are very active.
  6. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 10 January 2023 12: 37
    The Russian Federation still does not understand that there is a war going on and its goal is to inflict as much damage as possible on the Russian Federation, and ideally to defragment-decolonize, which Western colleagues, partners and friends speak openly about.
    They stole 300 billion official gold reserves, and even go and the same number of unofficial, private and legal entities, and the Russian Federation is all on the drum.
    Foreign companies left and their capital was freely taken out for no reason or for good compensation? Some both pumped out and continue to pump out resources from the Russian Federation. It is high time to nationalize enemy assets in banks, joint ventures, agriculture, all types of communications and transport, wherever enemies have dug in.
  7. Vladimir Tuzakov (Vladimir Tuzakov) 10 January 2023 23: 21
    All assets and funds taken away by Russian and its citizens should be recorded and notified that there is no statute of limitations for such robberies and will have to be returned, and with interest. Why is there no such warning, why the fifth column in the economy and finance of the Russian Federation actually acts against the state. Well-known economists M. Delyagin, V. Katasonov and others directly speak about the wrecking activities of the Central Bank of the Russian Federation and the Ministry of Finance of the Russian Federation, but there are no consequences, neither from the Constitutional Court of the Russian Federation, the UK. Chief Prosecutor's Office of the Russian Federation. Just in the Russian Federation, as in a looking glass ...