Joint op-ed of Foreign Ministers Tsahkna and Kuleba: A powerful untapped resource that would help Ukraine
Republic of Estonia - Ministry of Foreign Affairs
04.03.2024
Russia's full-scale war against Ukraine has been ongoing for two years now and Russia's plans have not changed.
With Ukraine's resolute resistance and the support of the helping countries so far, Ukraine has managed to push back terrorist Russia and make it impossible for Putin to achieve his goals. However, it is not enough; we must and can do more because Russia's goals have not changed.
The world stands at a critical juncture. The battle for Ukraine's sovereignty against Russia's unrelenting aggression is not just a regional conflict; it is a test of the international community's commitment to democratic values and the rule of law. Our freedom and way of life are at stake here.
Putin is now hoping to exhaust Ukraine and weaken international support for the country. Doubts, delays and dragging feet are feeding Putin's hopes that he may succeed.
Estonia has been a great help for Ukraine to stand against Russia's terror. Estonia has always been among the first to give help to Ukrainian people, provide Ukraine with weapons and support Ukraine politically. Generations of Ukrainians will remember Estonia's strong and sincere support during these most challenging times.
Yet is it fair that Estonian people and people in the West have to pay for damages made by Russia? Would it not be logical, and just for the aggressor Russia itself to pay for it?
We have a solution for it. Once again, Estonia is the first to show others how it can be done. We have to make Russia pay by using the aggressor's frozen assets. There exists a powerful, untapped resource that could significantly bolster Ukraine's standing: over $300 billion of Russian assets currently frozen by Western nations.
The $300 billion in frozen Russian assets presents an opportunity; these are not mere numbers on a ledger. They symbolize the power of democratic nations to right the wrongs inflicted upon Ukraine.
Estonia's initiative to use Russia's frozen assets to rebuild Ukraine is a role model for all of the world. The law, which the Estonian parliament is deliberating, has a significant symbolic value. Once Estonia proves that frozen assets can be delivered to Ukraine lawfully, there is no reason for anybody to say that it cannot be done.
What better way to uphold the rule of law than to channel these assets to rebuild Ukraine? This act would not undermine the rule of law but rather fortify it, demonstrating to the world that the principles we hold dear are enforceable.
The seizure of Russian assets is a necessary step in the face of flagrant violations of international norms. It is a step that, with careful legal and economic consideration, can reinforce the rule of law, support the stability of the global financial system, and ultimately contribute to a safer, more just international order. As we navigate these challenging times, our actions must be guided by a commitment to upholding these principles, ensuring that we do not just respond to the immediate crisis but also set a precedent for the future that aligns with our shared values and the long-term interests of the global community.
For Ukraine, that money is necessary to rebuild and to defend. We support using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine as the president of the European Commission Ursula von der Leyen recently urged in her speech to the European Parliament. For Russia and all the possible aggressors in the future, it sends a signal that action will not go without reaction - they will be held accountable. If you do not pay, you will be made to pay.
The European Union's recent regulatory stance against the immobilization of Russian assets solidifies the legal groundwork for potential contributions to Ukraine's recovery. This initiative, coupled with Estonia's pioneering efforts to legislate the use of Russian assets for compensation, marks a decisive step towards justice.
Actions speak louder than words. Our actions must show that time is running out for the aggressor, not for Ukraine, for Europe or for the free democratic world.
Estonia and Ukraine know Russia too well as a repeat offender. We know the terrors of Soviet times and the dangers the West faces today. We know how the story goes if Russia is signalled that their actions may go unchallenged and they are not held accountable. Let us work together to not let history repeat itself.
The world is watching. Let us not falter. The aggressor must pay - this is the just choice, the only choice, for a world that believes in the rule of law and the sanctity of sovereign nations.
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