Advisor to the President told which of the frozen Russian assets Ukraine can get back as soon as possible

Of those Russian assets that have already been frozen or will be frozen in other countries in the near future, Ukraine can get the assets of the Central Bank the fastest. This was stated in a commentary to UNN by Presidential Advisor on Economic Affairs Oleh Ustenko.

Now the frozen assets of the Russian Federation outside Russia are about $300 billion, which are the assets of their Central Bank. The second part, which is frozen, is the assets of their pseudo-elite, or their nomenklatura, that is, those who helped to make decisions, or made decisions, or stimulated decisions about the war against Ukraine. There are approximately 100 to 150 billion dollars in assets. Some of those assets have either already been frozen or are in the so-called tracking, that is, they will be frozen in the near future

It is likely that the assets belonging to the Russian pseudo-elite will be transferred for the reconstruction of Ukraine longer than the assets of the Central Bank.

"As for the assets of the Central Bank of the Russian Federation, we should expect much faster progress compared to those assets that belong to the private assets of their pseudo-elite and nomenclature. Because the "Central Bank" has everything concentrated and these are highly liquid assets, i.e. they can be exchanged quickly enough for real money that can be transferred to the needs of Ukraine.

As for the assets that belong to the Russian pseudo-elite , it is a more complicated procedure because they are not only in highly liquid assets, but in various assets, including real estate, yachts, houses. Therefore, the procedures will be longer.

As for the assets of the Central Bank of the Russian Federation, they are also generating income while they are frozen, so there are two possible tracks. The first is the immediate transfer of all those profits that were earned on the assets of the Central Bank of the Russian Federation, which are now frozen. This can be done quite quickly. And the second part of this story is the transfer of the frozen assets themselves.  As I understand the situation, most of the assets are concentrated in the European Union. As soon as the EU makes a decision to transfer these assets, they will be transferred immediately. But the first stage is the transfer of all the profits earned on these assets, and the second stage is the transfer of the assets themselves," Ustenko explained.

To recap,

EU leaders at the summit in Brussels on October 26-27 failed to reach a consensus on how to use Russian assets to rebuild Ukraine. At the same time, Estonian Prime Minister Kaja Kallas proposed a new mechanism for confiscating frozen Russian assets. According to her, the money of Russia and its henchmen should be used to rebuild Ukraine, while European taxpayers' money should be used for other tasks, including weapons.

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 The European Commission plans to present a plan to transfer income from Russian assets to Ukraine in early December, and its approval and implementation is scheduled for early 2024.