Skip to content

News Feed

12:13 AM
Germany has transferred over 32,000 rounds of 40-mm ammunition, dozens of all-terrain and border protection vehicles, and other military equipment to Ukraine as part of its latest aid package, the German government reported on Oct. 2.
11:35 PM
"The Ukrainians are still in a situation where they are acutely short of artillery ammunition… Denmark will contribute to more joint purchases of ammunition and remains prepared to support Ukraine in the long run," Danish Defense Minister Troels Lund Poulsen said.
10:46 PM
The mayor of Sumy and chief of the city council’s infrastructure department were arrested when receiving the last tranche of a Hr 2.13 million ($58,000) bribe, Ukraine’s Security Service (SBU) reported on Oct. 2.
Ukraine Daily
News from
Ukraine in your
inbox
3:43 PM
Josep Borrell, the EU's top diplomat, suggested in July to create a fund to reimburse member states' expenses on arms donations to Ukraine. The money is meant to cover both lethal and non-lethal equipment, allowing countries who adhere to the neutrality principle also to contribute.
11:00 AM
"We are convening a historic meeting of EU Foreign Ministers here in Ukraine, candidate country and future member of the EU," Josep Borrell wrote on the social platform X, formerly known as Twitter.
MORE NEWS

watch us on facebook

Edit post

Ukraine to use $460 million worth of confiscated Russian assets for reconstruction

by The Kyiv Independent news desk March 4, 2023 9:11 PM 1 min read
This audio is created with AI assistance

The government will use the assets seized from two Russian banks, MR Bank and Prominvestbank, to rebuild the country, Prime Minister Denys Shmyhal said during a conference on March 4.

The fund had been added to the budget after the banks’ liquidations on Feb. 25, 2022, the day after Russia’s full-scale invasion.

In early December, the World Bank estimated that the cost of Ukraine’s post-war reconstruction was upwards of 600 billion euros.

Following Russia’s continuous attacks on the country’s critical infrastructure since early October, the World Bank’s estimate of the cost of Ukraine’s post-war recovery had increased by over 200 billion euros since June, when the forecast was set at 350 billion euros.

In December 2022, the U.S. Senate approved an amendment allowing the transfer of seized assets belonging to Russian oligarchs to the people of Ukraine.

Prosecutor General Andriy Kostin reported on Feb. 3 that the U.S. had authorized “the first-ever transfer of the confiscated assets in the amount of $5.4 million for rebuilding Ukraine.”

“These forfeited assets follow the announcement I made last April of the indictment of designated Russian oligarch Konstantin Malofeyev on charges of sanctions evasions,” Garland said.

The proposed transfer was later confirmed by U.S. Attorney General Merrick Garland following his meeting with Kostin in the U.S., as reported by CNN.

Malofeyev, owner of the Russian ultranationalist Tsargrad TV channel, has been accused of funding Russian proxies in Russian-occupied Crimea in 2014.

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

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