RUSSIA’S FROZEN ASSETS SHOULD BE USED TO REBUILD UKRAINE: TOP EU OFFICIALS

Tue 10 May 2022:

The EU should seize frozen assets of Russian oligarchs to rebuild war-torn Ukraine, according to the head of the European Council.

Charles Michel, speaking at a news conference in the Ukrainian city of Odessa, where he paid a visit, highlighted Ukraine’s military and humanitarian requirements.

“…We have also frozen the assets of many oligarchs. And personally, I think that we should also try to confiscate these assets in order to make the means and the money available for the rebuilding of the country,” he said.

Michel also said they need to do “everything in order to break the Russian war machine” with sanctions.

He reiterated the EU’s decision to end its dependency on Russian gas, adding that member states are “very close” to a deal to ban Russian oil.

Meanwhile, EU foreign policy chief Josep Borrell also said that they could consider the use of frozen assets for Ukraine.

“I would be very much in favor because it is full of logic,” he said in an interview with Financial Times, adding EU capitals should consider this.

Borrell said there is need for “incredible amount of money” for the rebuilding of war-ravaged Ukraine, adding that the methods of “war compensations” from Russia should be discussed.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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