$500 billion in Russian assets frozen abroad
Ukraine is lobbying for the confiscation of assets of the Russian Federation for the reconstruction of Ukraine (Photo:ulianapinto/pixabay)
The West has frozen $500 worth of Russian assets, while Ukraine is lobbying for a legal procedure that would allow the funds to bankroll its post-war recovery, Ukrainian PM Denys Shmyhal said during a press briefing on Sept. 24.
According to Shmyhal, recovering from the damage inflicted by the full-scale Russian invasion will cost hundreds of billions of dollars, and this should be paid by Russia – either in reparations or seized assets.
“The aggressor must pay the price, and (Russia’s) assets must be the primary funding source of our recovery,” said Shmyhal.
According to official Ukrainian estimates, the war has already caused $340 billion in damages. Ukraine’s GDP in 2020 amounted to $155.6 billion.
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