Russia prioritizes money over people: Zelenskyy urges transfer of frozen assets to Ukraine

The frozen Russian assets abroad amount to approximately $300 billion. All funds should be used to support Ukraine, presenting a historic opportunity to compel the terrorist country to pay for its wrongdoing.

"Russian elites and leadership are indifferent to human lives, but above all, they are not indifferent to money. The loss of assets will be their most painful blow. They will feel the true power of the international community and see that the world is stronger than terror," added Volodymyr Zelenskyy.

According to the president, the decision to use frozen assets to support Ukraine will be a just and lawful response to Russia's aggression, as well as a proper signal to potential aggressors worldwide.

"I urge partners to swiftly move towards establishing the necessary legal framework. This year, we must achieve significant progress in using frozen Russian assets for the benefit of Ukraine. On the path to this goal, we rely firmly on the leadership of the G7," the president added.

Transfer of Russian assets to Ukraine

The United States has proposed to the "Group of Seven" nations to confiscate $300 billion in frozen Russian assets for the benefit of Ukraine. The corresponding plan aims to be approved by the second anniversary of Russia's invasion of Ukraine.

As recently noted by Prime Minister Denys Shmyhal, the United States, the European Union, and other countries have already approached a resolution to the aforementioned issue.

"There are already initial precedents for changes to legislation providing mechanisms for transferring money. It is crucial to consolidate this into a clear, unified system involving EU and G7 countries," stated the prime minister.

Read more about how Ukraine plans to claim compensation from Russia in our material.