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Finnish Foreign Minister calls to use frozen Russian assets for arming Ukraine

Finnish Foreign Minister calls to use frozen Russian assets for arming Ukraine Finnish Foreign Minister Elina Valtonen (Getty Images)
Author: Maria Kholina

Frozen Russian funds should be used for arming Ukraine, according to Finnish Foreign Minister Elina Valtonen.

She thinks the European Union and the United States could jointly implement this idea.

"These funds could be allocated for weaponry, supplying defensive means, and in the long run, for the restoration of Ukraine," Valtonen said.

At the same time, she reminded that this involves quite a complex legal issue.

"One of the main values ​​in the West is the inviolability of private property. Although not all citizens will understand why we cannot just take and appropriate the funds of a neighboring state that is waging a brutal aggressive war, disregarding any international norms. But we still have to adhere to our principles," the minister said.

Confiscation of Russian assets

Recently, EU ambassadors reached an agreement on using the proceeds from frozen Russian assets to aid Ukraine. It was also reported that diplomats have allowed transferring the income from Russian assets to a separate account.

At the end of 2023, the Western press wrote that the United States proposed to the Group of Seven countries to confiscate frozen Russian assets worth $300 billion for the benefit of Ukraine. The initiative was intended to be agreed upon by February 24, 2024.

According to the Financial Times, Belgium proposed a G7 plan to unblock Russian assets for the benefit of Ukraine.

Earlier, Ukrainian Foreign Minister Dmytro Kuleba expressed confidence that the EU would still make a decision regarding Russian assets this year.

In addition, European Commission President Ursula von der Leyen proposed using the proceeds from Russian assets for weaponry for Ukraine.