Brussels proposes plan to confiscate frozen Russian assets

FILE PHOTO: An aerial view shows the skyline of the capital Moscow in Russia, October 29, 2015. REUTERS/Andrey Kuzmin/File Photo

BRUSSELS (Reuters) - The European Commission on Wednesday said proposed a plan to confiscate Russian assets that have been frozen to punish Moscow for the invasion of Ukraine.

"We have blocked 300 billion euros of the Russian Central Bank reserves and we have frozen 19 billion euros of Russian oligarchs' money," Ursula von der Leyen, president of the European Union's executive said in a statement.