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Zelenskyy: Frozen Russian assets should be confiscated and work against terror

Zelenskyy: Frozen Russian assets should be confiscated and work against terror Photo: President Volodymyr Zelenskyy (Vitalii Nosach, RBC-Ukraine)

All of Russia's frozen assets should be confiscated and put to work to protect against terror, says President Volodymyr Zelenskyy during his evening address.

"In particular, this applies to frozen Russian assets - both the terrorist state and persons associated with it. Everything must be confiscated and work to protect [Ukraine] against terror. It is fair to respond to the terrorist. It is fair to destroy the terrorists. And it is fair to force the state - terrorist to pay for what she does. And we are working with our partners as energetically as possible so that the decision regarding Russian assets is as soon as possible," Zelenskyy said.

The President said that he held a meeting with the head of EU diplomacy Josep Borrell today and discussed the issue of confiscation of Russian assets.

"A unified and strong decision is needed. Such a decision will prove our common respect for international law and complete contempt for the terrorist state. Of course, I informed Mr. Borrell about the current situation on the battlefield, about our needs," the president said.

In addition, they discussed the issue of one million artillery shells for Ukrainian soldiers.

Confiscation of assets of the Russian Federation

Recently, the ambassadors of the European Union reached an agreement on the use of profits from frozen Russian assets to help Ukraine. It was also reported that the diplomats, by their decision, allowed the transfer of income from the assets of the Russian Federation to a separate account.

At the end of 2023, the Western press reported that the United States offered the G7 countries to confiscate frozen Russian assets in the amount of $300 billion for the benefit of Ukraine. They wanted to approve the initiative by February 24, 2024.

The head of the Ministry of Foreign Affairs of Ukraine, Dmytro Kuleba, expressed confidence that the EU would still make a decision on Russian assets this year.

Earlier, the Financial Times reported on Belgium's initiative. Brussels offered the G7 countries a plan that would allow the unblocking frozen Russian assets in Europe.