Ukraine wants frozen Russian assets to cover rising defense costs
Ukrainian Foreign Minister Andrii Sybiha (photo: facebook.com/andrij.sybiha)
Ukraine's defense and reconstruction costs are rising due to the ongoing war and intensifying Russian terror. The Foreign Ministry proposes covering them with frozen Russian assets, Ukrainian Foreign Minister Andrii Sybiha said.
Ukraine's rising defense and reconstruction costs are proposed to be covered by frozen Russian assets. Andrii Sybiha expressed this position, thanking the foreign ministers of Sweden, Poland, the Netherlands, and Spain for their letter regarding immobilized Russian assets.
According to him, Russia refuses to end the war and instead intensifies its terror, so Ukraine needs to close the gaps in its growing defense and reconstruction spending.
"It is only fair and logical to use Russian assets, rather than only European taxpayers' money, to cover additional costs of defending Ukraine and the rest of Europe from the Russian threat," Sybiha noted.
He stressed that the discussion should be rational, not emotional.
In his view, experts are capable of developing practical solutions in accordance with European norms, international law, and the principle of the rule of law, while the risks can be collectively mitigated and shared equally without placing an unfair burden on individual member states.
The minister added that he expects to discuss the issue with his EU colleagues next week.
Earlier, the European Commission proposed providing Ukraine with a €140 billion reparations loan backed by frozen Russian assets, most of which is planned to be spent on weapons.
Sybiha previously stressed that these funds are critically needed by Ukraine, as the damage caused by the war has exceeded $600 billion.
