Ukraine calls on partners to proceed with confiscation of Russian assets
news.online.ua
Sun, 15 Dec 2024 17:12:00 +0200
Partners should move from freezing Russian assets to confiscating themUkrainian Foreign Minister Andriy Sybiga stressed that frozen assets are not enough.He called for using not only profits, but also Russias assets themselves to strengthen its defense capabilities, restore the economy, and support Ukraines stability.
Forcing the aggressor to compensate for the damages caused is a fair and legal step, Andriy Sybiga emphasized.
What is known about the agreement between Ukraine and the EU on the use of profits from frozen assets of the Russian FederatioAccording to representatives of the Ministry of Finance, the head of the department, Serhiy Marchenko, signed an agreement with the EU to begin implementing a credit cooperation mechanism for Ukraine.Representatives of the agency emphasize that this mechanism establishes a legal framework for servicing and repaying funds received by Ukraine, which can reach up to 45 billion euros.
The mechanism will allow the use of proceeds from frozen sovereign assets of the Russian Federation to cover the principal amount of the loan raised from partners within the framework of the G7 ERA initiative, as well as interest and any other costs associated with the loan, the message emphasizes.
Funds available through the ULCM can only be used to repay relevant loans provided to Ukraine by creditors under the G7 initiative for additional loans to increase revenues to the Ukrainian budget.
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