Washington and Brussels explore ways to reallocate Russian assets to rebuild Ukraine
Nation21 October 2023, 01:03 PM
The United States and the
European Union have agreed to explore ways to use and transfer to Ukraine the
proceeds of frozen Russian assets, reads the joint statement from an EU-U.S.
summit released on Oct. 20.
The United States and the EU called on Russia to withdraw its troops from Ukraine and called for it to compensate Ukraine for the damage Russian forces have caused. The document also reiterates support for Ukraine's Peace Formula and readiness to support the country for as long as necessary while it is at war.
"As part of our efforts to aid Ukraine, in the short term, we will explore how any extraordinary revenues held by private entities stemming directly from immobilized Russian sovereign assets can be directed to Ukraine, where those extraordinary revenues are not required to meet obligations towards Russia under applicable laws," the joint statement reads.