Skip to content
Edit post

EU working group to explore using frozen Russian assets for reconstruction of Ukraine

by The Kyiv Independent news desk February 14, 2023 10:27 PM 1 min read
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

An EU working group led by the Swedish Presidency of the Council of the European Union will be exploring the possibility of utilizing frozen Russian assets to aid in post-war Ukraine's reconstruction efforts.

"In principle, it is clear-cut: Russia must pay for the reconstruction of Ukraine. At the same time, this poses difficult questions," said Swedish Prime Minister Ulf Kristersson on Feb. 14.

Kristersson added that this must be carried out in accordance with EU and international law, for which there is currently no direct model.

The working group aims to locate and evaluate the total value of Russian state-owned assets. They will conduct comprehensive legal, financial, economic, and political analyses to explore the potential use of frozen Russian assets.

In early December 2022, the World Bank Vice President for Europe and Central Asia Anna Bjerde told Austrain newspaper Die Presse the cost of repairing Ukraine's damaged infrastructure could cost upwards of 500 to 600 billion euros.

Zelensky meets with J.P. Morgan top managers over Ukraine’s reconstruction
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
10:26 PM

Senate Democrats back Johnson's foreign aid bills.

Senate Majority Leader Chuck Schumer said on April 19 that Senate Democrats will support House Speaker Mike Johnson's series of bills that includes aid for Ukraine, Israel, and other priorities if they pass the House.
10:01 PM

Russian attack on Kherson kills 80-year-old woman.

In a post on Telegram, the head of the city's military administration, Roman Mrochko, said the victim was walking the streets when she was hit in an attack launched from the occupied east bank of Kherson.
7:20 PM

Netherlands allocates over $210 million for ammunition for Ukraine.

Specifically, the country is devoting 150 million euros ($160 million) to Germany's Immediate Action on Air Defence initiative. The Netherlands has also allocated 60 million euros ($64 million) for the purchase of short-range air defense hardware, for example, to combat Russian drones.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.