Ukraine has clear plan to get access to EUR 300B of frozen Russian assets – PM Shmyhal

About EUR 300 billion of Russian sovereign assets have been frozen in partner countries, and Ukraine's goal is to gain access to them.

Prime Minister of Ukraine Denys Shmyhal said this in a post on Telegram, Ukrinform reports.

He informed that a meeting had been held on the confiscation of frozen Russian assets with the participation of the Ministry of Justice, the Ministry of Foreign Affairs, the Ministry of Finance, the Ministry of Economy, and the NBU.

"We discussed our plans for cooperation with the G7, the EU and Belgium. About EUR 300 billion of Russian sovereign assets have been frozen in partner countries. Our goal and position is clear: access to all these assets," he said.

Shmyhal noted that Ukraine is strengthening its legal position and preparing the necessary legal mechanisms. According to the Prime Minister, the government has a "clear action plan and first results".

“Together with the World Bank, we have estimated that Ukraine's recovery will cost at least $486 billion, and the assets of the aggressor country should be the main source of recovery. Russia must pay and Russia will pay,” he said.

As reported, the European Union, the G7 countries and Australia have frozen about $282 billion of Russian assets in the form of securities and cash. All parties agree that these funds should remain inaccessible to Russia unless it agrees to help rebuild Ukraine, but disagree on the legality of a complete seizure of these assets.

Photo: Telegram/Shmyhal