Four EU countries call for using frozen Russian assets to reconstruct Ukraine

Lithuania, Latvia, Estonia and Slovakia on Tuesday will demand the confiscation of Russian assets frozen by the European Union to finance Ukraine’s reconstruction after the Russian invasion.

This was reported by “European Truth” with reference to Reuters .

The letter said that in early May, Ukraine estimated the amount needed to rebuild the country after the destruction caused by Russia at about $ 600 billion. But as the war is still in full swing, the amount is likely to have risen sharply.

“Much of the cost of rebuilding Ukraine, including compensation for victims of Russian military aggression, must be covered by Russia,” the letter, which will be presented to EU finance ministers on Tuesday, said.

The letter also called on the EU to start preparing new sanctions against Moscow.

“Ultimately, if Russia does not stop its military aggression against Ukraine, there should be no economic ties between the EU and Russia at all – ensuring that none of our financial resources, products or services will contribute to Russia’s military machine,” the document said.

Four countries noted that the EU and like-minded countries have already frozen assets owned by Russian individuals and legal entities and about $ 300 billion in reserves of the Central Bank of the Russian Federation.

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