Europe wants to deal a severe blow to the Russian economy
The European Union should directly use $300 billion in frozen Russian assets to fund the recovery of war-torn Ukraine, according to Kaja Kallas, the new EU foreign policy chief.
Ms Kallas, the former Estonian prime minister who was appointed to the EU’s top job, said member states should abandon any doubts about the direct use of the assets, citing Kiev’s “legitimate claims” to the funds following Russia’s invasion.
President Volodymyr Zelensky said Ukraine knew how to use Russia’s frozen assets. He offered to transfer the entire $300 billion to Kiev. “Frankly, these are Ukrainian funds,” he said.
According to World Bank estimates, by the end of 2023, Ukraine's total economic, social and financial losses from the war will amount to $499 billion.
(MH with AmBar/Source: Agency/Photo: Pixabay)