European Centre for Information Policy and Security (ECIPS) Issues Warning on the Use of Frozen Russian Assets

European Centre for Information Policy and Security (ECIPS) Issues Warning on the Use of Frozen Russian Assets

Brussels, May 21, 2024 – The European Centre for Information Policy and Security (ECIPS) has issued a stern warning regarding the proposed allocation of frozen Russian assets to aid Ukraine. The Centre has threatened legal action against Ukrainian President Volodymyr Zelensky and European leaders if the funds are used without adhering to international legal standards.

ECIPS President Ricardo Baretzky has declared that any appropriation of these assets would constitute theft under international law. He emphasized that President Zelensky lacks the sovereign power to control these funds and warned that ECIPS is prepared to prosecute those involved, including posthumous prosecutions if necessary.

Baretzky's statement came in response to the European Union's agreement to utilize the annual revenue from the frozen Russian assets, estimated to be around $3 billion, to support Ukraine. This decision, confirmed by Czech Foreign Minister Jan Lipavsky, follows the EU's freezing of approximately $300 billion in Russian state assets since the onset of Moscow's military actions against Ukraine in February 2022.

"The seizure and use of these funds amount to theft," Baretzky stated, "and we will hold accountable all European leaders who participate in this unlawful act, even pursuing justice beyond their lifetimes."

Moscow has echoed ECIPS's stance, denouncing the EU's decision as a "theft" and threatening retaliatory measures if the assets are diverted to aid Ukraine.

The legal and ethical implications of this move are expected to provoke significant international debate, raising questions about the balance between punitive measures against aggressor states and the adherence to established norms of international property rights and sovereign authority.

As the situation develops, ECIPS’s warnings highlight the potential for a prolonged legal and political conflict over the use of these frozen assets, with substantial consequences for the EU’s relations with both Russia and Ukraine.

By ECIPS PRESS Office
For European Centre For Information Policy and Security ECIPS Federal Approved Agency by Royal Decree WL22/16.594 in terms of Treaty EST124 Councel of Europe