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Russia’s rozen reserves should be used to rebuild Ukraine — Borrell

The EU is considering options for rebuilding Ukraine at the expense of the Russian Federation. Photo: consilium.europa.eu

The EU is considering options for rebuilding Ukraine at the expense of the Russian Federation. Photo: consilium.europa.eu

EU countries should consider seizing the frozen foreign exchange reserves of the Russian Federation in order to use them to rebuild Ukraine.

This was stated by EU High Representative for Foreign Affairs and Security Policy Josep Borrell, according to the Financial Times.

The head of European diplomacy noted that earlier the United States similarly had taken control of assets belonging to the Central Bank of Afghanistan. This was done, among other things, for potential compensation to victims of terrorism and humanitarian assistance to the country. It would be possible to consider similar steps with the reserves of the Russian Federation.

"I would vote in favor, as it is very logical," Borrell said.

He stressed that the issue of financing the rebuilding of Ukraine is one of the key political issues. An "incredible amount of money" should be involved in the rebuilding of the country.

The EU is currently considering the possible use of Russia's reserves to rebuild Ukraine. Official Brussels has not yet announced any proposals on this issue.

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