EU and Ukrainian flags. File photoMOSCOW, May 18.The European Union will consider using the proceeds from the frozen assets of Russians who fell under European sanctions to finance the «restoration of Ukraine», Bloomberg reports.
"For a long-term Reconstruction Commission will propose to create a structure called RebuildUkraine, where all resources will be sent. As part of this initiative, the EU will consider the use of assets confiscated from Russian persons subject to sanctions,» the agency writes, citing the relevant project.
Ukrainian Foreign Minister Dmytro Kuleba told his EU counterparts on Monday that the costs of rebuilding the country could reach a trillion euros, the sources said. The European Commission, in coordination with allies and which is planned to cover the country's financial deficit of $15 billion over the next three months.FT: EU prepares to sacrifice climate to reduce reliance on RussiaThe European Commission, as part of a aid package still under discussion, will also offer Kyiv loans worth between 7 and 9 billion euros to finance urgent expenses, agency sources said. EU countries will also offer new guarantees for long-term loans. A number of Western countries have introduced new sanctions against Rossit after the start of a special operation in Ukraine. The measures mainly affected the financial sector and the supply of high-tech products. In a number of countries, as part of the sanctions policy, the assets and real estate of Russian businessmen have also been frozen. The Kremlin called these restrictions an economic war, but noted their readiness for such a development of events. The Bank of Russia takes measures to stabilize the situation on the foreign exchange market; payments for gas supplies to unfriendly countries were transferred to rubles. The government also prepared a plan to counter restrictive measures, which includes about a hundred initiatives. The volume of its funding will be about a trillion rubles.