Int’l partners support confiscation of Russian assets for Ukraine - PM Shmyhal

International partners support the idea of utilizing frozen Russian assets to rebuild Ukraine.

Prime Minister of Ukraine Denys Shmyhal said this at a press conference in London, Ukrinform reports.

Russia must pay for what it has destroyed, for all the tragedies it has caused and is causing in Ukraine during its unprovoked, unjust, and dirty aggression, Shmyhal stressed.

The issue was also brought up during the Ukraine Recovery Conference, which Shmyhal believes is really important.

Earlier, the head of government emphasized that the country could be restored by confiscating Russian assets internationally. The Council of Europe has already made a historic decision to create a Register of Damages Caused by Russia's Aggression against Ukraine. This is the first component of the International Compensation Facility. Another source of financing the reconstruction is funds from the Ukrainian budget, including those from the confiscation of Russian assets located in Ukraine. The third source is the help of international partners, including international financial organizations.

As reported, Ukraine is already preparing a mechanism that will allow for confiscating up to $500 billion worth of Russian assets frozen in the West.

An international Ukraine Recovery Conference is being held in London on June 21-22. The event is a continuation of the annual conferences on reforms in Ukraine, which have been held since 2017.