I appreciate the positive reaction – Kuleba asked the G7 ministers to transfer Russian assets to Ukraine
Kuleba asked G7 ministers to transfer Russian assets to Ukraine/Channel 24 collage
Ukraine has officially asked the G7 countries to create procedures for the transfer of Russian assets. They want to use Russian funds for the post-war reconstruction of Ukraine.
Canada has already taken such a step
Ukrainian Foreign Minister Dmitry Kuleba made the corresponding statement in Germany following the meeting of the G7 foreign ministers. Kuleba said that he called on the G7 countries to pass legislation to transfer Russian assets to Ukraine.
I appealed to the foreign ministers of the G7 countries with a call to adopt legislation and create all the procedures necessary for the transfer of Russian sovereign assets to Ukraine, Kuleba said.
The head of the Ukrainian Foreign Ministry stressed that Ukraine needs these funds to restore after the destruction caused by Russia. According to Kuleba, Russia must bear economic, financial and political responsibility for its aggression.
He noted that Canada has already met Ukraine halfway and taken the appropriate step. The Ukrainian Foreign Minister asked the G7 countries not to delay.
Canada has already taken such a step. I am convinced that the rest of the G7 countries will do the same sooner rather than later. We are talking about hundreds of billions of dollars and euros. Russia must pay. Politically, economically, financially. I am grateful to the G7 countries for the positive reaction to my call,” Kuleba said.
Damage to Ukraine from Russian aggression
- In April, Forbes reported that $400 billion worth of Russian assets were frozen in the world. The Office of the President stated that they had two plans on how to recover Russian money in their favor.
- Also, the Cabinet of Ministers of Ukraine reported that international partners would help our state confiscate about $ 500 billion of frozen assets of Russia and its oligarchs.
- The Ukrainian government has estimated the damage from the Russian invasion at 500 billion dollars. Prime Minister Denis Shmihal has said that the restoration will take about $600 billion.
- US President Joseph Biden has submitted a proposal to Congress that the assets of Russian oligarchs in the United States could be confiscated in favor of Ukraine.
- The policy of collecting Russian funds in favor of Ukraine was supported in the EU. EU High Representative for Foreign Policy Josep Borrell said that EU countries should consider seizing Russia's frozen foreign exchange reserves. He said they should be spent on rebuilding Ukraine after the war.