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Confiscation of assets of the Russian Federation
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Ukraine's losses from the war
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The frozen assets of the RF and its accomplices
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Confiscated assets of the Russian Federation
We follow the confiscation of assets of the aggressor state and individuals responsible for the war
and share it with you
Learn more
Confiscation tracker
The project is implemented by the Institute of Legislative Ideas team
More about “Freeze and Seize”Map controls
map of confiscation of assets of the RF in the world
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$193000000 billion
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EU wants to impose sanctions on russian liquefied natural gas and oil "shadow fleet"
European Union
Swedish Foreign Minister shares details of the 14th package of sanctions against russia
22 Apr 2024
European Union
Kurt Volker believes that the decision to confiscate russian assets for Ukraine is being reluctantly made
United States of America
Kurt Volker - former US Special Representative for Ukraine Negotiations
21 Apr 2024
United States of America
House of Representatives votes to transfer frozen russian assets to Ukraine
United States of America
Ukraine can receive almost $8 billion under this procedure. The bill still needs to be approved by the US Senate
20 Apr 2024
United States of America
What should the International Register of Damage take into account when designing procedures for submitting and reviewing applications concerning destroyed or damaged housing?
#loss accounting
This document outlines the major challenges faced by owners of damaged or destroyed real estate when documenting losses with a view to obtaining compensation
15 Mar 2024
Compensation for war-related moral damage: Ukrainian and international practice
#loss accounting
This paper presents our analysis of the practice of compensation for non-pecuniary damage in Ukrainian law, as well as the UN Compensation Commission and the European Court of H…
11 Mar 2024
Evidentiary standards in the practice of the UN Compensation Commission: Lessons for Ukraine
#loss accounting
This document contains our analysis of the practice of the UN Compensation Commission, which was established in 1991. by the UN Security Council to consider claims and pay compe…
23 Feb 2024
Frequently asked questions
General questions
Why should the assets of the aggressor state and it's accomplices be confiscated?
Since the beginning of the full-scale invasion of Ukraine, the actions of the Russian Federation and individuals who actively contribute to the aggression (Russian politicians, propagandists, oligarchs, etc.) have caused enormous economic loss, which as of early 2023 is estimated at more than $700 billion.
First, the damage caused by the war is now being covered by Ukraine and its international partners. Neither Russia nor the Russians are willing to pay for the damage caused until Russia is completely defeated on the battlefield, which they do not think to be plausible. Confiscation of their assets will make it possible to shift the economic burden of rebuilding Ukraine onto the shoulders of the perpetrators right now and will allow to compensate for the damage before the war ends.
Second, those responsible for the war have not lost anything personal yet, as they have been adapting to the sanctions since 2014. Realizing that the freezing of their assets is the most severe sanction they may face and there is no risk of actually losing those assets, responsible persons do not have proper incentive to change their course of actions. The continuation of the war thus is not assosiated with personal losses for these people. In fact, some State Duma deputies have been making profits from renting out property frozen in the EU for many years.
Third, implementing confiscation measures ensures prevention of the similar actions by other aggressors in the future. From now on, such crimes will not go unpunished, neither for countries nor for individuals who contribute to aggression. Anyone who intends to commence a war of aggression or support it in any way will have to realize that they will have to pay for it with their wealth. Personal liability with the prospect of losing personal property will constitute a strong incentive to stop supporting military aggression not only against Ukraine but also against any other country in the world.
Is such confiscation lawful?
Debates in various parliaments and governments around the world have shown that this issue is one of the most vulnerable and may be easily manipulated with.
Currently, there exist international customs unfavorable for the purposes of confiscation which may be used by the aggressor state to avoid responsibility for the damages and losses it has inflicted.
However, implementing confiscation measures ensures prevention of the similar actions by other aggressors in the future. From now on, such crimes will not go unpunished, neither for countries nor for individuals who contribute to aggression. Anyone who intends to commence th agressive war or support it in any way will have to realize that they will have to pay for it with their wealth and resources. Personal liability with the prospect of losing personal property will constitute a strong incentive to stop supporting military aggression not only against Ukraine but also against any other country in the world.
What confiscation mechanisms exist and can be utilized?
The broad array of instruments can be used to confiscate the assets of the Russian Federation and war supporters.
States can employ the tools that are alreready in place, for example, confiscation within the framework of criminal prosecution.
The other tool is the so-called NCBF (Non-Conviction Based Forfeiture). For example, assets of persons engaged in mafia activities (in Italy) or corrupt officials (in Georgia) have already been confiscated in civil proceedings with a lower standard of proof and within a shorter timeframe. The tool could potentially be used against those who actively contribute to military aggression.
New mechanisms are being developed in the context of military aggression and the need to confiscate assets as a result of such actions. Ukraine has introduced special tools for confiscation of Russian state assets and assets of war collaborators. Similar legislation has been adopted in Canada. Special instruments are also being developed in the EU countries and in the United States, where relevant acts are being developed or have already been submitted to parliaments for consideration.
What are the actions of civilized states with respect to the confiscation of Russian assets?
The cynical and brutal nature of the Russian invasion led to the fact that, despite the rather complicated balance of power in world politics, most countries unanimously condemned Russia as an aggressor. At the very beginning of the war, the vast majority of UN member states (141 out of 193) officially condemned Russia's aggression in Ukraine and voted for a resolution in the UN General Assembly, using the rather rare Uniting for Peace mechanism. This procedure bypasses the UN Security Council, where Russia's veto as a permanent member would have made such a statement impossible.
After the full-scale invasion of Ukraine on February 24, the sanctions policy towards Russia has become unprecedented. Russia has taken the lead in terms of sanctions imposed on a single country.
Along with numerous embargoes and price caps on oil and oil products, countries have begun to freeze the assets of Russia and its accomplices . To date, about $417 billion of Russian assets have been frozen worldwide and $5.4 million has been confiscated.
In addition to the political decision to freeze assets, countries are actively working to design and implement the legal mechanisms necessary to confiscate frozen assets and transfer them to Ukraine.
Private assets
Private assets
It is well known that Russian politicians, propagandists, oligarchs, and others who actively contribute to the war against Ukraine and have made enormous fortunes due to their proximity to the Putin regime prefer to keep their wealth abroad. Despite their hatred of everything 'Western' and threats of nuclear strikes, they do not hesitate to own mansions, yachts, and private jets in countries 'unfriendly' to Russia.
The confiscation of such assets, in addition to pursuing the goal of allocating funds for the reconstruction of Ukraine, constitutes a personal liability measure that can affect the behavior of a particular person.
It is the individual liability of aggressors and its inevitability that can become the personal risk that can actually make the responsible persons change their behavior in relation to the aggression and prevent further wars in the world.
How many private assets can be confiscated?
Given the large amount of assets that war supporters hold around the world, different approaches to confiscation in different countries, and the efforts to hide assets in offshore companies and through third parties, it is almost impossible to estimate the exact amount of assets. However, we can use as a basis the estimate of the frozen private assets of sanctioned persons. Although due to the active dynamics of blocking and different approaches to publishing this information, our estimates show that as of the beginning of 2023, approximately USD 100 billion of such assets were frozen worldwide.
More information on which countries froze most and which countries froze less can be found on our interactive map.
Has any country already confiscated the assets of war collaborators and what is hindering the progress?
Asset freezing does not allow transferring them to Ukraine. For this purpose, confiscation must be exerted, which, in turn, requires the development of an appropriate legal mechanism. Naturally, Ukraine was the first country to introduce a special mechanism for confiscating private assets of war collaborators. As of the beginning of 2023, there are more than 10 judgments on the confiscation of assets of Russian oligarchs, propagandists and politicians.
Canada, using a newly enacted law, is confiscating the assets of Russian oligarch Abramovich; the United States, employ the existing civil forfeiture mechanism and a corresponding amendment to the Budget Act to transfer to Ukraine $5.4 million confiscated from Russian media mogul Malofeyev accused of circumventing sanctions.
Despite the significant amount of frozen assets, some countries, including the EU, have been reluctant to confiscate them, as they are looking for a proper, legally reliable tool that would not violate the right to private property. Compliance with the highest standards of human rights protection and the right to a fair trial is the key prerequisite for such confiscation, so the search for the proper avenue is still in progress.
Sovereign assets
What are sovereign assets?
The sovereign assets of the Russian Federation are funds and property owned by the Russian Federation as a state, as well as funds and property owned by the companies whose authorized capital is controlled by the Russian Federation.
Since the beginning of the full-scale invasion of Ukraine, most countries holding the funds of the Central Bank of the Russian Federation have blocked them. These include Germany, France, the United Kingdom, the United States, Japan, Austria, and Canada. Only China has not blocked Russian funds in its accounts.
According to the information published by the Central Bank of the Russian Federation and other statistics, it is about $300 billion. As of 2023, Europe, in particular, is trying to update the data on the amount of blocked sovereign funds.
In addition to the Central Bank's funds, Russian state assets consist of several hundred property objects around the world, in addition to companies with a Russian share in the authorized capital owning real estate worth billions of dollars.
All these assets of the aggressor state should be confiscated and transferred to Ukraine for its reconstruction and compensation for the damage caused.
Can we expect the assets of the Russian Central Bank to be confiscated?
No doubt, the confiscation of $300 billion belonging to the aggressor state would be a significant support for Ukraine. The need for the confiscation is repeatedly emphasized by senior officials of Ukraine and some other countries.
However, the world hesitates to confiscate and transfer the frozen assets of the Central Bank of the Russian Federation. The first reason is the sovereign immunity of the Russian Federation which prevents interference with the property rights of a state. Moreover, the current international customary law provides special protection for the property of states' central banks. The second reason is the lack of political will, as this could set a dangerous precedent that would negatively affect the willingness of states to hold assets in other countries.
Currently, the search is underway for an optimal mechanism for the confiscation of these assets that would be acceptable from the point of view of international law. Ukraine's most determined partners argue for the need to conclude an international treaty that would allow such confiscation, while a moderate partners are only willing to send Ukraine the proceeds from the management of frozen assets.
Does the Russian Federation have any property abroad that can be confiscated?
Apart from embassies' and consulates' property, the aggressor state owns hundreds of land plots and real estate objects - apartments, estates, religious buildings, etc.
Information on Russia's foreign property used to be publicly available. However, in 2015, after the annexation of Crimea, the first sanctions and the freezing of assets to enforce the Yukos judgment, this information was hidden.
According to Russian journalists, based on the report of the Accounts Chamber of the Russian Federation, as of 2012, Russia owned 973 objects abroad - 166 land plots and 807 buildings and premises, mostly in the capitals of the countries. These assets are still directly managed by the Russian state, and therefore it is likely that these objects serve as a cover for the activities of the aggressor country's agent base around the world.
At present, it is difficult to assess the exact value of such assets. It may reach hundreds of billions of dollars, which should be transferred to Ukraine.