The Estonian authorities plan to auction Russian companies’ bulk and liquid cargo terminals in the ports of Muuga and Sillamäe, the CFTS portal reports, citing the ERR publication.
According to the publication, the Estonian Foreign Affairs Ministry will submit amendments to the Law on International Sanctions, which will allow the confiscation of Russian assets, for approval in the coming weeks.
The plan is to use the funds generated by auctioning the Russian companies’ frozen assets to rebuild Ukraine.
According to the Estonian Foreign Affairs Ministry’s spokeswoman Kerstin Meresma, the amendment bill proposes using the money to compensate Ukraine. In addition, she confirmed the bill provides for using Russian assets that are not subject to sanctions.
Currently, the frozen assets in Estonia mostly belong to the Russian companies DBT and EuroChem Terminal Sillamäe, which engage in the transshipment of fertilizers from Russia. They own bulk and liquid cargo terminals in the ports of Muuga and Sillamäe.
