Russian assets should be directed toward Ukraine recovery as early as this year – Zelensky

President Volodymyr Zelensky stated this in an address to the European Council, reports Ukrinform.

"We need progress on the fair use of Russia’s frozen assets. The aggressor should pay the highest price for the war – this is in line with both the letter and the spirit of law. This year, we must use Russian assets to protect and restore life in Ukraine, which the aggressor is destroying. This is only fair when both the profits from Russian assets and assets themselves will serve to rebuild Ukraine after the hostilities, support Ukraine, and, in part, purchase weapons to stop the terror,” Zelensky said.

He emphasized that Russia should feel the true cost of war and the need for a just peace.

As reported, yesterday, during the Ukraine-EU Association Council, EU High Representative Josep Borrell suggested using profits derived from frozen Russian assets in Ukraine's interest. If this proposal finds support from EU member states, the entire profit will be directed to the EU budget and forwarded to Ukraine: 90 percent for military needs, another 10 percent for the country's recovery programs and the development of the Ukrainian defense industry.

According to Borrell, the total amount of sovereign assets of the Russian Central Bank, which were frozen in Western democracies, may reach $350 billion.

Photo: President’s Office