Ukrainian PM reveals expected revenue from frozen Russian assets

April 10,2024 264
Ukrainian PM reveals expected revenue from frozen Russian assets

Prime Minister Denys Shmyhal said during a government meeting on April 9th that Ukraine is projected to receive around €5-8 billion in revenues from frozen Russian assets abroad in 2024.

“We welcome the initiatives of our European partners to transfer revenues generated by these frozen assets to Ukraine. In 2024, such revenues could amount to a total of €5-8 billion. However, this is just the first step towards restoring justice. The principle of ‘Russia will pay’ must be fully implemented,” Shmyhal stated.

The Prime Minister said that Russia must compensate Ukraine for damages to its energy infrastructure, among other obligations. “We insist that the aggressor must pay for the losses incurred,” emphasized Shmyhal.

The Prime Minister announced the establishment of the International Register of Damage Caused by the Aggression of the Russian Federation, which has already received over 500 submissions. Meanwhile, the Ukrainian government is currently setting up a Compensation Commission and a Compensation Fund to be filled by confiscating Russian assets.

Earlier, the UWC President called for the confiscation of Russian assets. “Finding the right formula to fund Ukraine with Russia’s frozen assets should be an international priority. This will reduce the financial pressure on Western countries and undermine economic arguments against continued international support for Ukraine,” Paul Grod wrote.

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