Report: EU cannot confiscate Russian central bank's assets

WASHINGTON, Dec 1 (PRIME) -- The E.U. cannot confiscate frozen assets of the Russian central bank because of the international principle of state immunity, The Wall Street Journal reported on Thursday.

The European Commission said on Wednesday that this principle made confiscation impossible, but the E.U. might establish a fund for management of liquid assets and allocate profit from investment in reconstruction of Ukraine.

The commission also said that the E.U. has no information on the share of central bank's assets in various member states and on the share of liquid assets. The E.U. will insist on Russia's granting part of the frozen assets to Ukraine in the framework of a peace treaty.

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