Estonia will soon become the first EU country to introduce a mechanism for using confiscated Russian assets.
As CTS reports, this was stated by the Deputy Head of the Office of the President of Ukraine Ihor Zhovkva following a meeting with the Deputy Minister of Foreign Affairs of the Republic of Estonia Küllike Syllaste-Elling.
In particular, Estonia is working on changes to national legislation regarding the transfer of confiscated Russian assets for the reconstruction of Ukraine.
"We appreciate your leadership in the issue of using Russian assets for the reconstruction of Ukraine. Estonia will be the first European state to introduce a legal mechanism to resolve this issue. You are setting an important example for others," Zhovkva emphasized.
As TTS has already written, the Estonian authorities plan to auction the bulk and bulk terminals in the ports of Muuga and Sillamäe, which are owned by Russian companies. They plan to use the funds for the frozen assets taken from their owners in the Russian Federation for the restoration of Ukraine.
Currently, the frozen assets in Estonia mostly belong to the Russian companies DBT and EuroChem Terminal Sillamae, which are engaged in transshipment of fertilizers from the Russian Federation. Yes, they own bulk and bulk terminals in the ports of Muuga and Sillamae.