The team of ICUV conducted comprehensive research into different aspects of confiscation of Russian Central Bank’s assets amounting to approx. 300 billion USD that were frozen in G7 and EU states. We’ve studied the legal, economic, and political aspects of confiscation, as well as the risks Western companies may be exposed to in Russia in case Russian frozen assets are confiscated and transferred to Ukraine. We’ve also analyzed the Ukrainian experience of confiscation of Russian assets.

Legal arguments: Overcoming sovereign immunity under customary international law

Economic argument: There’s no alternative to Western reserve currencies

Economic argument: Fear of retaliation against Western businesses in Russia

Political argument: Other countries should not feel threatened the West would confiscate their assets for minor transgressions 

Legal analysis: Perspectives of adjudication in the International Courts

Ukrainian experience: mechanisms, examples, solutions 

Legal analysis: On the Confiscation of Assets of the Russian Central Bank in Germany 

In order to raise awareness among international decision-makers about confiscation of Russian assets, ICUV experts took part and presented the research findings at a number of events and meetings, such as the Conference on Compensation Mechanism in the Italian Senate in Rome in January, Cafe Kyiv in Berlin in February, the Cidob event in Barcelona in February, and many others. 

ICUV team is raising awareness and educating general public on the issue too, via creative and cultural activities, manifestations e.g. #MakeRussiaPay rallies across the entire globe where people bring large bills listing Russian war crimes and damages inflicted at Ukraine or Digital/VR Exhibition #MakeRussiaPay: Russian War in Numbers.