Some worry this might set a precedent.

I hope it does.

Every regime that invades another country, committing countless mass atrocities, should have their foreign assets taken & handed to their victims.

This might get all would-be invaders to think twice.
https://www.euractiv.com/news/eu-greenlights-indefinite-immobilisation-of-russian-assets/

Yes, there are concerns about rule of law, but those are on both sides of the issue. Should the law protect the assets of a few rich and powerful mass murderers, or should the law protect the rights and lives of their millions of innocent victims who are being bombed, tortured, raped, and immiserated?
EU leaders urged to use frozen Russian assets to fund Ukraine’s defence

Pressure is growing on member states to back a €90bn loan for Kyiv ahead of a Brussels summit

The Guardian

@andrewstroehlein I see zero concerns about rule of law here. Zero.

The UN charter and the General Assembly resolutions are rule of law. The ICC verdicts are rule of law. The Geneva Conventions - all of them - are rule of law. The Universal Declaration of Human Rights is rule of law.

The Putin regime murdered (!) every point from the above list and state-sponsored the terrorist attacks throughout the EU. Their whole "WAAAH, taking our money is against the law!" talking point is ludicrous.

@DemFighter @andrewstroehlein - issue here is that the US has also ignored the rule of law by these agencies (and/or directly penalized them for potential findings against the US) for years, so it’s very hard for them to be seen as an arbiter of all that’s right.
They’d also be seen as more effective if not a puppet regime of Putin’s.