The European Commission has proposed a plan to confiscate frozen Russian assets.
"We have blocked 300 billion euros of the Russian Central Bank reserves and we have frozen 19 billion euros of Russian oligarchs' money," said the head of the European Commission, Ursula von der Leyen, DW reported.
According to her, in the near future, the EU and its partners could take over the management of these funds and their investment. The proceeds would go to Ukraine to compensate for the damage caused to the country.
"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," von der Leyen added.
"Russia's invasion of Ukraine has brought death, devastation and unspeakable suffering.
We all remember the horrors of Bucha.
First, Russia must pay for its horrific crimes, including for its crime of aggression against a sovereign state.
This is why, while continuing to support the International Criminal Court, we are proposing to set up a specialised court, backed by the United Nations, to investigate and prosecute Russia's crime of aggression," she added.