Last week in Strasbourg, the European Parliament adopted a resolution on the EU directive regarding the detection and seizure of assets of criminal origin, which allows for the quick freezing and confiscation of funds in EU territory. In particular, the document states that Russian assets that can be confiscated because of Russia’s full-scale war should become a “contribution to the recovery of Ukraine.”

The document also states that the EC should develop recommendations for using seized assets and property for compensation, restitution, and reparations to states affected by international crimes.

A member of the European Parliament, Lóránt Vincze, spoke on the issue of asset confiscation and emphasized that the new directive “targets the financial income received by international criminal organizations.”

The income from these asset groups in the EU is €150B, and only 1% of these assets have been confiscated.