This seizure follows a 2018 international arbitration award ordering Russia to compensate Oschadbank for losses incurred during the illegal annexation of Crimea. After Russia refused to pay, Ukraine initiated proceedings in several countries to enforce this award and recover the amounts owed.
Why is this important?
Until now, many foreign state-owned assets enjoyed near-absolute immunity. This case sets a global precedent: courts could now consider that an aggressor state, condemned by international justice, can no longer hide behind immunity to evade its financial obligations.
What this changes:
• Russian state assets abroad could be seized to compensate war victims. • This legal precedent could inspire other jurisdictions (United Kingdom, United States, Eastern Europe, etc.).
• It paves the way for concrete reparation mechanisms for the destruction and crimes committed by Russia in Ukraine.
We call on other countries to draw inspiration from this decision and act with the same determination to hold Russia financially accountable for its actions.
Justice and accountability do not stop at borders.
Every asset seized is a step closer to truth, reparation, and peace.
