European Commission to submit proposals for using frozen Russian assets

European Commission spokesman Christian Wiegand spoke of this with journalists on Tuesday, Ukrinform reports.

"We stand ready to present a legal proposal taking into account the discussions with the member states," Vigard said.

Wiegand recalled that the leaders of EU states and governments discussed the topic at the latest meeting of the European Council at the end of June.

"We are working with the Spanish Presidency on exploring a step-wise approach and we are supporting discussions. We also sent the paper in that regard to the Spanish presidency at the end of July," he said.

According to him, the European Commission is ready to provide a detailed proposal, taking into account the discussions with the member states.  Intensive work is also underway with partners from the G7.

"It is very important for us to coordinate this internationally," the spokesman added.

Earlier, the EU stated that they had no legal justification for the confiscation of Russia's frozen assets.