Ukraine expects G7 decision on seizing Russian assets

Ihor Zhovkva, Deputy Head of the Office of the President of Ukraine, has said that Kyiv expects a coordinated decision by the G7 countries to seize Russia's frozen assets.

Source: Zhovkva in an interview with Interfax-Ukraine news agency, reported by European Pravda

Details: "The G7 should make a joint coordinated decision here. You know that some European countries like Belgium are trying to start this process in practice," Zhovkva said.

He said that Ukrainian officials have been talking in the United States about making the frozen Russian assets work right now.

He noted that it can be about rapid recovery projects, social projects such as the restoration of liberated territories, as well as bomb shelters, schools, etc.

"This requires appropriate legislative decisions in these countries. At the EU level, this requires, for example, a general EU directive," Zhovkva said.

Background: It was reported earlier that the Biden administration has stepped up efforts to confiscate about US$300 billion of sovereign Russian assets frozen in Western countries.

On 12 December, the European Commission approved a legislative proposal to use the proceeds of frozen Russian assets to rebuild Ukraine, which was taken note of by the European Council on 14 December.

Read more on the topic: Euroclear Will Help Us: Will Investment Income from Russian Assets in EU Become Compensation to Ukraine

Support UP or become our patron!