(ZEROHEDGE) – The E.U. is continuing its attempts to forge a legal pathway forward whereby it can seize frozen Russian central bank assets and divert them to funding Ukraine's reconstruction, however, steep enough legal hurdles remain to have thus far thwarted the plans.
"We have blocked €300 billion of the Russian Central Bank reserves, and we have frozen €19 billion of Russian oligarchs’ money," European Commission President Ursula von der Leyen boasted in a statement this week. And speaking of her goal of utilizing confiscated assets by E.U. member states to rebuild war-devasted Ukraine, she said further, "We will work on an international agreement with our partners to make this possible. And together, we can find legal ways to get to it."
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"Russia and its oligarchs have to compensate Ukraine for the damage and cover the costs for rebuilding the country. And we have the means to make Russia pay," she contineud.