Ukraine's FM on Russian frozen assets: Kyiv sees evolution in position of European countries
Minister of Foreign Affairs of Ukraine, Andrii Sybiha (Photo: RBC-Ukraine, Vitalii Nosach)
It is time to move from using the profits from frozen assets of the Russian Federation to their full use for Ukraine’s defense and reconstruction, said the head of the Ministry of Foreign Affairs, Andrii Sybiha, during a joint press conference with his German counterpart, Johann Wadephul.
Sybiha noted that on the issue of the terrorist country’s assets, Ukraine defends a consistent and principled position. According to him, it is necessary today to utilize all available funds for Ukraine's defense and reconstruction, as the enemy must compensate for the damage it has caused.
At the same time, the minister noted that Kyiv sees an evolution in the position of European countries. This is important, as it is necessary to have a consolidated and coordinated decision of the G7 countries and European states.
"Work is also underway in some countries where the most frozen or immobilized Russian assets are concentrated. Legal teams are working there, looking for the right formulas to implement this decision on the use of Russian assets for the needs of Ukraine’s defense and reconstruction," he said.
Frozen assets of Russia
After Russia’s full-scale invasion of Ukraine, Western countries froze about 300 billion dollars of assets of the Central Bank of Russia. Most of these funds are located in Europe, particularly within the European Union, through the Euroclear clearing system, which is based in Belgium. The assets of Russian state-owned companies and sanctioned individuals also came under sanctions.
Eventually, Ukraine’s partners began to use the income from the frozen funds to support Kyiv. For example, it recently became known that Ukraine will receive 350 modern missiles from Britain, which London will purchase with funds received from the assets.
