Suppose you are a small Ukrainian ISP working in Berdyansk or Melitopol. In 2022 you essentially become an ISP working on Russian-held territory. Does RIPE want to just confiscate your address pool and redistribute it back in Ukraine in some form, leaving you without address space? How does that help the people living on that territory?
It may indirectly help that ISP or other ISPs in the future if the world makes a general policy of not supporting looting of IP addresses or anything else. If profits from looting are reduced, it may make invasions less likely, as both the rank & file and the leaders/oligarchs have less to gain. And people working at ISPs would generally benefit from their country not being invaded.