Ukraine calls on global community to accelerate seizure of Russian assets

Ukraine calls on global community to accelerate seizure of Russian assets

Ukraine has called on the global community to focus on strengthening the implementation of sanctions against Russia and accelerate the development of mechanisms to confiscate Russian assets and direct them to Ukraine’s reconstruction efforts.

The relevant statement was made by the Ukrainian Finance Ministry, following the Informal Meeting of EU Economic and Financial Ministers and Central Bank Governors (ECOFIN), which was attended by Ukrainian Finance Minister Sergii Marchenko in Stockholm.

“The scale of the challenges that Ukraine has been experiencing for over a year is unprecedented in its recent history. Nevertheless, we have managed to successfully withstand the shocks and challenges of war thanks to the unity of Ukrainians, the prudent policy of the Government of Ukraine and substantial international support. Today, our financial system is undoubtedly in a better position than a year ago, and the economy is showing a gradual recovery,” Marchenko told.

According to Marchenko, Russia must pay for its horrific actions in Ukraine and, in this regard, the minister drew attention to the issue of strengthening sanctions against Russia.

“First of all, even taking into account the unprecedented sanctions, they did not have a devastating enough impact on the aggressor’s economy as we all expected. We should focus on strengthening the implementation of sanctions and closing loopholes that allow evasion,” Marchenko stressed.

In his words, it is important to impose restrictions on those countries that help Russia.

“Secondly, it is necessary to accelerate the development of mechanisms for confiscating Russian assets and directing them to rebuild Ukraine,” Marchenko noted.

The aggressor must be held accountable for its actions and compensate Ukraine for the losses, the minister emphasized.

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