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Passing legislation using Russia’s frozen assets

Resolution Nr. 1 adopted at the EPP Congress, Bucharest (Romania), 6th – 7th March 2024
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The Russian Federation is waging an unprecedented, unprovoked, and ongoing full-scale war against its neighbour, Ukraine, killing thousands of innocent people, destroying villages, towns and infrastructure, kidnapping Ukrainian children, and causing immense damage to Ukraine’s environment all while jeopardising European security.  Following the atrocities carried out by Vladimir Putin’s regime against Ukrainian civilians, the European Parliament has recognised Russia as a state sponsor of terrorism. Russia has also been proclaimed a terrorist state, or a state governed by a terrorist regime, by many EU Member States, and a number of sanctions have been imposed on its representatives and institutions. Europe has made clear and bold decisions to rid itself of the dependency on Russian oil and gas. EU support for Ukraine is unquestionable and undeniable.  The European People’s Party is aware of the fact that the Russian Federation possesses large amounts of assets, property and land, predominantly in Central and Eastern European countries being used by Russia for the purpose of espionage and to maintain its influence across Europe.  The European People’s Party:  • Demands that it should not be tolerated to allow Russia to own large quantities of real estate in the EU, which are being used for espionage and to maintain its influence across Europe. In light of the continuing Russian aggression, the destruction of Ukraine, and an unprecedented threat to European security, the EPP calls upon the European Commission, EU Council and the European Parliament to urgently prepare and pass sound legislation which would allow Member States to seize all the frozen Russian assets of Russia’s central Bank, by using international legal instruments of countermeasures, consistent with applicable contractual obligations and in accordance with EU and international law while safeguarding the stability and attractiveness of the EU’s financial system.  • Calls on the EU and on Member States to find the best legal and financial solutions for how to make use of the seized financial assets of the Russian state, including Russia’s central bank, for the benefit of Ukraine, in order to make Ukraine’s reconstruction a success. 


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