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  • Denys Shmyhal: Ukraine now negotiates with partners on specific mechanisms of how russia should pay
    Communications Department of the Secretariat of the CMU, posted 03 May 2024 14:56

    The Government has approved a draft decree of the President of Ukraine that updates the composition of the working group developing mechanisms for compensation for property damaged as a result of russian aggression. This was announced by Prime Minister Denys Shmyhal.

    "President Volodymyr Zelenskyy has set a clear task - to ensure that russian assets frozen in the West are used for the benefit of Ukraine. Today we are to take an important step," said Denys Shmyhal.

    The Government has also set up a separate subgroup to work directly on the issue of confiscation of russian sovereign assets abroad. The subgroup will include representatives of ministries, the President's Office, the Parliament, the NBU, Ukrainian and foreign experts.

    "Our consistent principled position is that russia must pay for everything in full. According to the RDNA-3 assessment we made with the World Bank, the reconstruction needs amount to USD 486 billion. During the full-scale war, the enemy either destroyed or damaged more than 250,000 residential buildings, up to 4,000 schools, more than a thousand hospitals and many other facilities," the Prime Minister said.

    According to the Head of Government, Ukraine is already negotiating with its partners on specific mechanisms of how russia should pay.

    Thus, during a visit to the United States, the Government delegation had informal meetings on the prospects and ways of confiscation.

    "We held an in-depth roundtable on this issue with the participation of representatives of the G7 countries. We are grateful to Canada, in particular to Deputy Prime Minister Chrystia Freeland, for organizing the moderation. There were representatives of the EU, Sweden, and Poland. The roundtable gathered representatives of academia as well, since we need to create a unique, legally balanced and effective mechanism for using russian assets," said Denys Shmyhal.

    According to him, the participants focused on Ukraine's needs. On the amount of russian assets available. Principles and tools for utilizing frozen assets.

    "It is crucial that some of our partners have already taken decisive steps. Canada was one of the leaders in this process. The US Congress has also recently granted the President broad powers to confiscate russian sovereign assets. Step by step, we are advancing in this direction," the Prime Minister emphasized.

    Denys Shmyhal: Ukraine now negotiates with partners on specific mechanisms of how russia should pay