The public sitting was held in the Conference Hall of the Riigikogu and could be watched in the link below with simultaneous interpretation into English.

Economist and expert on Russia and Ukraine Anders Åslund spoke about the impact of using frozen assets on Russia. Tom Keatinge, director of the Center for Financial Crime and Security Studies at the RUSI defense and security think tank, discussed the links between the oligarchs and the Kremlin and the frozen assets of the Central Bank of Russia. Laurence Tribe, professor emeritus at Harvard University and an expert on international law, analyzed the use of the assets from the perspective of international law.

The bill that would allow the use of Russia's frozen assets for the reconstruction of Ukraine and better implement the sanctions against Russia was initiated by the government and passed its first reading in the Riigikogu in mid-November.

The constitutional committee has already discussed the introduction of the regulation with banking experts, Estonian foreign policy experts, and representatives of the courts. Next week, experts in constitutional law will also participate in the discussion.

The bill on Amendments to the International Sanctions Act and Amendments to Other Associated Acts (332 SE) will create a national mechanism to ensure the financial liability of the aggressor state for damage caused by the most serious violations of international law.

The amendment will enable the use of assets of individuals and companies that have contributed to Russia's illegal acts as an advance payment for damages owed by Russia to Ukraine. The bill also specifies the competences of state agencies in the implementation of international sanctions and provides them with a clearer legal basis for the implementation and monitoring of sanctions.

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