Nearly $68B needed to restore Ukraine's energy sector - PM Shmyhal

Prime Minister Denys Shmyhal stated this at a government meeting on March 14, Ukrinform reports with reference to his Telegram channel.

"According to the latest World Bank RDNA4 assessment, the needs for restoring the energy sector alone amount to about $68 billion. Therefore, one of the priorities for our Government this year remains work on creating a mechanism for confiscating frozen Russian assets. Because these assets should become the main source for (funding – ed.) our reconstruction," he said.

Shmyhal said Ukraine would be seeking full confiscation of frozen Russian assets. According to the prime minister, while the process is underway, Ukraine will continue to receive funds from proceeds accumulated off frozen assets.

As Ukrinform reported earlier, Ukraine received CAD 2.5 billion (about USD 1.7 billion) under the G7 ERA initiative. These funds are ensured by the proceeds from frozen Russian assets.

In early March, Ukraine received under the ERA the first GBP 752 million from the United Kingdom.