The EU is exploring methods to confiscate frozen Russian assets to support Ukraine.

The European Union is exploring ways to confiscate a portion of the $280 billion in frozen Russian assets, aiming to secure financial and military assistance for Ukraine. This was reported by Bloomberg.

“According to sources familiar with the negotiations, EU officials are discussing how these assets could be utilized as collateral for the planned Commission on International Claims, which will determine compensation for Ukraine. In that case, the assets could be seized if Moscow refuses to reimburse the damages,” the report states.

Another option being considered suggests that the EU could empower member states to confiscate Russia's sovereign assets to compensate for the destruction of Ukraine's energy infrastructure. They are examining whether this can be done under the ICC's ruling.

EU economic and financial leaders Valdis Dombrovskis and Maria Luis Albuquerque stated that the bloc must explore all possible avenues to assist Ukraine, including the confiscation of assets from the Russian central bank.

The EU, the G7 countries, and Australia have frozen approximately $280 billion in assets belonging to the Russian central bank in the form of securities and cash. According to estimates from the U.S. Department of the Treasury, sanctions imposed against prominent Russians have also frozen additional assets worth about $58 billion, including homes, yachts, and private jets.