EUR 6B of Russian assets frozen in Luxembourg should be sent to Ukraine - Shmyhal

EUR 6B of Russian assets frozen in Luxembourg should be sent to Ukraine - Shmyhal

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EUR 6 billion worth of Russian assets frozen in Luxembourg should work for Ukraine now.

Ukrainian Prime Minister Denys Shmyhal said this in a Telegram post following negotiations with Luxembourgish Prime Minister Luc Frieden, Ukrinform reports.

"The confiscation of frozen Russian assets is a key issue. According to preliminary data, more than 6 billion euros of Russian funds are stored in Luxembourg. Our fundamental position is that these funds should work for Ukraine now," Shmyhal said.

According to him, it is important for Ukraine that all frozen Russian sovereign assets are used for the country's resilience and recovery.

He also added that Luxembourg had expressed interest in the reconstruction of the Kryvyi Rih district in Ukraine's southeastern Dnipropetrovsk region, a powerful industrial center in the country.

Shmyhal also announced that Luxembourg was ready to join the implementation of the seventh point of the Ukrainian Peace Formula, which concerns punishing Russia for the crimes it committed.

The two also paid special attention to the sanctions policy.

"Our joint task is to block Russia from all ways of financing its war of aggression," Shmyhal said.

Read also: Switzerland considers using Russian assets to fund war reparations in Ukraine

He thanked Luxembourg for military cooperation, for advocating macro-financial assistance last year and for facilitating the approval of the Ukraine Facility program this year.

In addition, Shmyhal praised Luxembourg's contribution to supporting Ukraine and its European integration.

Shmyhal is on a working visit to Luxembourg on March 19.

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