Shmyhal, Cameron discuss seizure of immobilized Russian assets

Shmyhal reported this on Telegram, Ukrinform saw.

"We discussed the escalation of Russia's attacks on civil infrastructure and the necessary assistance to Ukraine. And also the mechanisms that will make Russia pay for the crimes and destruction committed. In particular, the confiscation of the frozen Russian assets," he said.

Shmyhal thanked Cameron for his personal involvement in the process.

The parties also raised the issue of creating a special international group with the participation of Ukraine, which will work out the legal ways to proceed with such seizure.

"Ukraine has already submitted its proposals. The International Damage Register has been established. Next, we propose that an International Compensation Commission be set up, as well as a compensation fund. Our position is unequivocal: all frozen Russian assets must be directed to the needs of our state," the head of government emphasized.

Shmyhal also thanked the UK for the significant amount of aid provided and for signing a security agreement with Ukraine, which gives confidence in long-term support from British allies.

As Ukrinform reported earlier, EU High Representative Josep Borrell proposed to use income derived from frozen Russian assets in Ukraine’s interest. If the EU countries support the proposal, the entire amount of such income will be directed to the EU budget and forwarded to Ukraine: 90 percent for military needs, another 10 percent – for the country's reconstruction programs and 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 jurisdictions, may reach $350 billion.

Photo: Denys Shmyhal / Telegram