Forfeiting Russia’s Billions to Rebuild Ukraine

The World Refugee & Migration Council, together with the Embassy of Ukraine and the Parliamentary Centre’s EngageParlDiplo program, hosted a discussion with distinguished legal experts and parliamentarians on supporting the rebuilding of Ukraine in the wake of Russia’s brutal and unjustified aggression.

The discussion explored pressing questions surrounding the repurposing of frozen Russian assets to reconstruct Ukraine. These questions included:

• How much will the reconstruction and recovery of Ukraine cost?
• Why should Russian assets held abroad be confiscated and used for Ukraine’s recovery and reconstruction costs?
• What are the legal obstacles to confiscating privately held assets of sanctioned Russian oligarchs and the Russian state? How can these obstacles be overcome?
• How much money are we talking about?
• What are the broader financial implications of asset forfeiture?
• What should the Canadian government do with the
• Russian-held assets it may forfeit now, and are there useful models and precedents it should follow?
• What role can legislatures play in creating a supportive legal environment?

The discussion took place on the eve of the international Ukraine Recovery Conference in London on June 21-22, 2023.